Shares of InVitae Corp (NASDAQ:NVTA) have received a consensus broker rating score of 1.67 (Buy) from the three analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and two have assigned a strong buy rating to the company. InVitae Corp’s rating score has improved by 16.5% from three months ago as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a 1 year consensus target price of $14.00 for the company and are forecasting that the company will post ($0.67) EPS for the current quarter, according to Zacks. Zacks has also given InVitae Corp an industry rank of 89 out of 265 based on the ratings given to related companies.
Several brokerages have recently issued reports on NVTA. Zacks Investment Research upgraded InVitae Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. Benchmark Co. assumed coverage on InVitae Corp in a research report on Thursday, June 30th. They issued a “hold” rating and a $8.50 target price for the company. JPMorgan Chase & Co. upped their target price on InVitae Corp from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 9th. Finally, TheStreet downgraded InVitae Corp from a “hold” rating to a “sell” rating in a research report on Thursday, September 15th.
Shares of InVitae Corp (NASDAQ:NVTA) opened at 7.68 on Friday. The stock’s 50 day moving average price is $8.17 and its 200 day moving average price is $8.78. The firm’s market cap is $247.80 million. InVitae Corp has a 12-month low of $5.66 and a 12-month high of $11.85.
InVitae Corp (NASDAQ:NVTA) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.76) by $0.01. The firm earned $5.60 million during the quarter, compared to analyst estimates of $5.81 million. The company’s revenue for the quarter was up 211.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.76) EPS. On average, equities research analysts predict that InVitae Corp will post ($2.96) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers bought a new position in InVitae Corp during the second quarter valued at about $122,000. Metropolitan Life Insurance Co. NY bought a new position in InVitae Corp during the second quarter valued at about $142,000. Teachers Advisors Inc. boosted its position in InVitae Corp by 244.2% in the second quarter. Teachers Advisors Inc. now owns 35,825 shares of the company’s stock valued at $265,000 after buying an additional 25,416 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in InVitae Corp by 95.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 44,528 shares of the company’s stock valued at $330,000 after buying an additional 21,794 shares in the last quarter. Finally, Polar Capital LLP bought a new position in InVitae Corp during the second quarter valued at about $406,000.
InVitae Corp Company Profile
Invitae Corporation (Invitae) utilizes an integrated portfolio of laboratory processes, software tools and informatics capabilities to process deoxyribonucleic acid (DNA)-containing samples, analyze information about patient-specific genetic variation and generate test reports for clinicians and their patients.
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