InVitae (NYSE:NVTA) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday. The firm presently has a $15.00 price objective on the medical research company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 6.46% from the stock’s previous close.
According to Zacks, “Invitae Corporation is engaged in genetic diagnostics for hereditary disorders which include breast, colon and pancreatic cancer. It operates primarily in the United States, Israel and internationally. Invitae Corporation is headquartered in San Francisco, California. “
Several other research analysts also recently weighed in on the company. CIBC began coverage on InVitae in a research note on Wednesday, December 19th. They set an “outperform” rating for the company. Oppenheimer initiated coverage on InVitae in a research note on Wednesday, December 19th. They set an “outperform” rating and a $20.00 price target for the company. Benchmark initiated coverage on InVitae in a research note on Tuesday, November 20th. They issued a “buy” rating and a $17.00 target price for the company. William Blair restated a “market perform” rating on shares of InVitae in a research note on Thursday, November 8th. Finally, JPMorgan Chase & Co. raised their target price on InVitae to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, November 8th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $15.60.
NVTA stock opened at $14.09 on Thursday. The company has a quick ratio of 3.90, a current ratio of 3.90 and a debt-to-equity ratio of 0.29. The firm has a market cap of $1.05 billion, a PE ratio of -5.32 and a beta of 1.90. InVitae has a fifty-two week low of $4.35 and a fifty-two week high of $18.38.
InVitae (NYSE:NVTA) last posted its quarterly earnings results on Wednesday, November 7th. The medical research company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.02. The company had revenue of $37.37 million during the quarter, compared to the consensus estimate of $34.80 million. InVitae had a negative return on equity of 103.37% and a negative net margin of 109.60%. The firm’s quarterly revenue was up 105.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.57) EPS. On average, equities analysts forecast that InVitae will post -1.97 EPS for the current year.
In other InVitae news, Director Eric Aguiar sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 27th. The stock was sold at an average price of $13.50, for a total value of $135,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Patty Dumond sold 2,000 shares of the firm’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $12.90, for a total value of $25,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,000 shares of company stock valued at $172,240. 8.70% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc raised its holdings in shares of InVitae by 14.5% during the 3rd quarter. Legal & General Group Plc now owns 10,899 shares of the medical research company’s stock valued at $183,000 after buying an additional 1,380 shares in the last quarter. Swiss National Bank raised its holdings in shares of InVitae by 5.6% during the 3rd quarter. Swiss National Bank now owns 87,900 shares of the medical research company’s stock valued at $1,471,000 after buying an additional 4,700 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of InVitae during the 3rd quarter valued at about $102,000. BlueMountain Capital Management LLC purchased a new position in shares of InVitae during the 3rd quarter valued at about $110,000. Finally, Voya Investment Management LLC raised its holdings in shares of InVitae by 44.2% during the 2nd quarter. Voya Investment Management LLC now owns 24,424 shares of the medical research company’s stock valued at $180,000 after buying an additional 7,488 shares in the last quarter. 75.42% of the stock is currently owned by hedge funds and other institutional investors.
Invitae Corporation, a genetic information company, processes DNA-containing samples, analyzes information related to patient-specific genetic variation, and generates test reports for clinicians and their patients in the United States, Canada, and internationally. The company's tests include multiple genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; proactive health and wellness screening; and preimplantation embryo testing and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.
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