Cancer diagnostics has been a major growth sector over the last few years. Lucky for investors, three monster stocks have recently gone on sale. Let’s look at these very different companies, each with their own unique twist, and see which one may have the best combination of growth and value for today’s healthcare investor.
Veracyte (NASDAQ: VCYT) offers a suite of diagnostics to solve the dilemma of the inconclusive test. There are over 500,000 thyroid biopsies each year in the U.S., and up to 30% of those are inconclusive, meaning you cannot rule cancer in or out based on the results. This can lead not only to increased patient cost, frustration, and anxiety, but patients with inconclusive biopsies are often nudged toward surgery which often yields benign results (i.e., not cancerous) up to 80% of the time. Basically, the patient goes through an unnecessary surgery up to 80% of the time.