Why Veracyte Stock Is Skyrocketing Higher This Week

Shares of leading diagnostics platform and cancer-detecting genomic test provider Veracyte (NASDAQ: VCYT) are up 23% over the last week as of market close Thursday, after the company reported excellent first-quarter earnings earlier in the week. Veracyte's sales grew by 21%, and its earnings per share quadrupled, as its net income margin improved from 6% to 21% year over year. Both of these figures soared past Wall Street's estimates. Management guided for sales growth between 13% and 14% in 2026, with margins remaining robust.

It was an all-around great quarter for Veracyte, as the company announced:

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Source Fool.com