Zacks Investment Research upgraded shares of InVitae (NYSE:NVTA) from a hold rating to a buy rating in a research note released on Tuesday. They currently have $11.00 target price on the medical research company’s stock.

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. “

Separately, ValuEngine raised shares of InVitae from a hold rating to a buy rating in a research note on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $11.00.

Shares of NYSE NVTA opened at $10.21 on Tuesday. The company has a market capitalization of $687.03 million, a P/E ratio of -3.85 and a beta of 1.35. InVitae has a 52-week low of $4.35 and a 52-week high of $11.00. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.42.

InVitae (NYSE:NVTA) last issued its quarterly earnings data on Tuesday, August 7th. The medical research company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.07. The company had revenue of $37.31 million during the quarter, compared to the consensus estimate of $30.70 million. InVitae had a negative net margin of 125.03% and a negative return on equity of 111.27%. analysts anticipate that InVitae will post -2 EPS for the current year.

A number of large investors have recently modified their holdings of NVTA. Spark Investment Management LLC bought a new position in InVitae in the first quarter worth approximately $112,000. Granite Springs Asset Management LLC raised its stake in InVitae by 103.2% in the first quarter. Granite Springs Asset Management LLC now owns 29,540 shares of the medical research company’s stock worth $139,000 after buying an additional 15,000 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in InVitae in the fourth quarter worth approximately $145,000. Bank of Montreal Can bought a new position in InVitae in the second quarter worth approximately $155,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in InVitae by 67.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 22,273 shares of the medical research company’s stock worth $164,000 after buying an additional 8,979 shares in the last quarter. 70.35% of the stock is owned by institutional investors.

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. 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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