Brokerages Set InVitae Corp (NVTA) Price Target at $15.00
InVitae Corp (NASDAQ:NVTA) has earned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $15.00.
A number of research firms have recently issued reports on NVTA. ValuEngine upgraded shares of InVitae Corp from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Benchmark Co. reiterated a “buy” rating and set a $16.00 price target (up from $11.00) on shares of InVitae Corp in a research report on Monday, April 3rd.
Hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of InVitae Corp by 0.6% in the first quarter. Wellington Management Group LLP now owns 3,974,227 shares of the medical research company’s stock valued at $43,955,000 after buying an additional 25,100 shares in the last quarter. Vanguard Group Inc. increased its position in shares of InVitae Corp by 9.8% in the first quarter. Vanguard Group Inc. now owns 1,206,266 shares of the medical research company’s stock valued at $13,341,000 after buying an additional 107,775 shares in the last quarter. Perceptive Advisors LLC bought a new position in shares of InVitae Corp during the fourth quarter valued at about $3,970,000. State Street Corp increased its position in shares of InVitae Corp by 9.4% in the fourth quarter. State Street Corp now owns 338,514 shares of the medical research company’s stock valued at $2,688,000 after buying an additional 29,017 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in shares of InVitae Corp by 11.9% in the first quarter. HighTower Advisors LLC now owns 252,744 shares of the medical research company’s stock valued at $2,792,000 after buying an additional 26,787 shares in the last quarter.
Shares of InVitae Corp (NASDAQ NVTA) remained flat at $9.59 during trading on Monday. 182,585 shares of the stock traded hands. InVitae Corp has a 1-year low of $5.76 and a 1-year high of $11.88. The stock’s market cap is $405.79 million. The stock’s 50-day moving average is $9.40 and its 200-day moving average is $9.40.
InVitae Corp (NASDAQ:NVTA) last posted its quarterly earnings results on Tuesday, May 9th. The medical research company reported ($0.64) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.68) by $0.04. InVitae Corp had a negative net margin of 260.48% and a negative return on equity of 119.10%. The company had revenue of $10.34 million during the quarter, compared to the consensus estimate of $10.90 million. During the same period last year, the firm earned ($0.80) EPS. The company’s revenue for the quarter was up 161.1% on a year-over-year basis. Analysts anticipate that InVitae Corp will post ($2.37) earnings per share for the current fiscal year.
About InVitae Corp
Invitae Corporation 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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