Is Veracyte, Inc. overvalued or undervalued?

As of 24 October 2025, the valuation grade for Veracyte, Inc. moved from expensive to attractive, indicating a shift towards a more favorable assessment. The company appears to be undervalued based on its current metrics. Key valuation ratios include a P/E ratio of 56, a Price to Book Value of 1.80, and an EV to EBITDA of 35.87, which suggest that while the stock has a high earnings multiple, it may still offer value relative to its growth potential.
In comparison to its peers, Veracyte's P/E ratio of 50.97 is more favorable than that of iRhythm Technologies, which has a risky valuation with a P/E of -111.60, and TransMedics Group, which is fairly valued at a P/E of 50.23. Despite recent challenges, Veracyte has outperformed the S&P 500 over the 1-week and 1-month periods, with returns of 2.51% and 12.39%, respectively, although it has lagged behind in the year-to-date and 5-year returns.