Veracyte's stock surged 13.77% in pre-market trading on Wednesday, following the release of its first-quarter financial results that significantly exceeded analyst expectations and the company's subsequent upward revision of its full-year outlook.

The diagnostic company reported quarterly non-GAAP earnings of $0.52 per diluted share, beating the FactSet consensus estimate of $0.33. Revenue for the quarter rose to $139.1 million from $114.5 million a year earlier, also surpassing the $130.4 million analysts expected.

Investor sentiment was further bolstered as Veracyte raised its 2026 revenue guidance to a range of $582 million to $592 million, up from its previous forecast of $570 million to $582 million. The positive developments were complemented by bullish analyst action, including Guggenheim reiterating a Buy rating and Leerink Partners raising its price target on the stock.