InVitae Corp (NYSE:NVTA) has been assigned a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $25.00.

NVTA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $20.00 price target on shares of InVitae in a research note on Wednesday, February 20th. They noted that the move was a valuation call. Benchmark lifted their price target on shares of InVitae from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, February 20th. Chardan Capital initiated coverage on shares of InVitae in a research note on Monday, March 4th. They issued a “buy” rating and a $29.00 price target for the company. Oppenheimer lifted their price target on shares of InVitae from $21.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Finally, Zacks Investment Research upgraded shares of InVitae from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Wednesday, April 24th.

In related news, General Counsel Thomas Brida sold 2,146 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $18.21, for a total value of $39,078.66. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Katherine Stueland sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $25.23, for a total transaction of $25,230.00. The disclosure for this sale can be found here. In the last three months, insiders sold 86,651 shares of company stock worth $1,567,727. 8.70% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. Great West Life Assurance Co. Can lifted its holdings in InVitae by 173.1% during the fourth quarter. Great West Life Assurance Co. Can now owns 7,920 shares of the medical research company’s stock valued at $84,000 after purchasing an additional 5,020 shares in the last quarter. Morgan Stanley lifted its holdings in InVitae by 8.5% during the third quarter. Morgan Stanley now owns 152,712 shares of the medical research company’s stock valued at $2,555,000 after purchasing an additional 11,957 shares in the last quarter. Perkins Capital Management Inc. purchased a new position in InVitae during the first quarter valued at approximately $939,000. California Public Employees Retirement System purchased a new position in InVitae during the fourth quarter valued at approximately $850,000. Finally, Fiera Capital Corp purchased a new position in InVitae during the fourth quarter valued at approximately $1,977,000. 78.93% of the stock is currently owned by institutional investors and hedge funds.

Shares of NVTA stock traded down $0.32 during trading hours on Friday, reaching $19.37. The company had a trading volume of 48,692 shares, compared to its average volume of 1,256,748. InVitae has a one year low of $7.08 and a one year high of $26.77. The firm has a market capitalization of $1.77 billion, a PE ratio of -9.92 and a beta of 2.35. The company has a quick ratio of 7.73, a current ratio of 7.73 and a debt-to-equity ratio of 0.37.

InVitae (NYSE:NVTA) last announced its quarterly earnings results on Tuesday, May 7th. The medical research company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.01). InVitae had a negative return on equity of 65.76% and a negative net margin of 81.52%. The company had revenue of $40.55 million during the quarter, compared to the consensus estimate of $47.17 million. During the same quarter in the prior year, the firm earned ($0.66) earnings per share. The business’s revenue was up 46.5% compared to the same quarter last year. Analysts anticipate that InVitae will post -1.91 earnings per share for the current year.

InVitae Company Profile

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. Its tests include genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; and screening and testing services in reproductive health, including preimplantation and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.

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Analyst Recommendations for InVitae (NYSE:NVTA)

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