Zacks: InVitae Corp (NVTA) Given $14.00 Average Target Price by Brokerages
InVitae Corp (NASDAQ:NVTA) has been given a consensus broker rating score of 1.67 (Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and two have given a strong buy rating to the company. InVitae Corp’s rating score has improved by 28.3% from 90 days ago as a result of various analysts’ upgrades and downgrades.
Brokers have set a one year consensus price objective 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 assigned InVitae Corp an industry rank of 102 out of 265 based on the ratings given to related companies.
Several research firms have recently issued reports on NVTA. TheStreet lowered shares of InVitae Corp from a “hold” rating to a “sell” rating in a research report on Thursday, September 15th. Zacks Investment Research raised shares of InVitae Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 30th. JPMorgan Chase & Co. boosted their price objective on shares of InVitae Corp from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, August 9th. Finally, Benchmark Co. began coverage on shares of InVitae Corp in a research note on Thursday, June 30th. They set a “hold” rating and a $8.50 price objective for the company.
InVitae Corp (NASDAQ:NVTA) traded up 4.51% during trading on Friday, hitting $7.64. 56,608 shares of the stock traded hands. The company has a 50-day moving average price of $8.19 and a 200-day moving average price of $8.84. The stock’s market cap is $246.50 million. InVitae Corp has a 12 month low of $5.66 and a 12 month high of $11.85.
InVitae Corp (NASDAQ:NVTA) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by $0.01. The firm had revenue of $5.60 million for the quarter, compared to the consensus estimate of $5.81 million. During the same quarter in the prior year, the business posted ($0.76) earnings per share. The firm’s revenue for the quarter was up 211.1% on a year-over-year basis. Equities research analysts expect that InVitae Corp will post ($2.96) EPS for the current year.
A number of institutional investors have recently modified their holdings of NVTA. Schwab Charles Investment Management Inc. boosted its position in shares of 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. Metropolitan Life Insurance Co. NY purchased a new position in shares of InVitae Corp during the second quarter valued at approximately $142,000. Polar Capital LLP purchased a new position in shares of InVitae Corp during the second quarter valued at approximately $406,000. State Street Corp boosted its position in shares of InVitae Corp by 287.8% in the second quarter. State Street Corp now owns 272,171 shares of the company’s stock valued at $2,010,000 after buying an additional 201,995 shares in the last quarter. Finally, Rhumbline Advisers purchased a new position in shares of InVitae Corp during the second quarter valued at approximately $122,000.
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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