InVitae Corp (NYSE:NVTA) – Research analysts at Leerink Swann dropped their FY2017 earnings estimates for InVitae in a research report issued on Tuesday. Leerink Swann analyst P. Souda now expects that the medical research company will post earnings per share of ($2.38) for the year, down from their previous estimate of ($2.30). Leerink Swann currently has a “Outperform” rating and a $10.00 target price on the stock. Leerink Swann also issued estimates for InVitae’s Q4 2017 earnings at ($0.54) EPS, Q1 2018 earnings at ($0.56) EPS, Q2 2018 earnings at ($0.49) EPS, Q3 2018 earnings at ($0.46) EPS, Q4 2018 earnings at ($0.39) EPS, FY2018 earnings at ($1.90) EPS and FY2019 earnings at ($1.33) EPS.

NVTA has been the subject of a number of other reports. Zacks Investment Research cut InVitae from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. BidaskClub cut InVitae from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. Benchmark cut their price target on InVitae from $16.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Ladenburg Thalmann Financial Services began coverage on InVitae in a report on Friday, January 5th. They issued a “buy” rating and a $15.00 price target for the company. Three research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. InVitae has a consensus rating of “Hold” and a consensus target price of $12.40.

InVitae (NYSE:NVTA) opened at $7.03 on Thursday. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.33. InVitae has a twelve month low of $3.05 and a twelve month high of $10.41. The stock has a market capitalization of $372.21 and a PE ratio of -2.76.

InVitae (NYSE:NVTA) last released its quarterly earnings results on Monday, November 6th. The medical research company reported ($0.57) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.02). InVitae had a negative net margin of 206.95% and a negative return on equity of 115.25%.

A number of large investors have recently made changes to their positions in NVTA. Perceptive Advisors LLC raised its holdings in InVitae by 190.1% during the 3rd quarter. Perceptive Advisors LLC now owns 1,884,500 shares of the medical research company’s stock worth $17,657,000 after purchasing an additional 1,235,000 shares during the last quarter. Orbimed Advisors LLC grew its position in shares of InVitae by 232.5% during the 3rd quarter. Orbimed Advisors LLC now owns 1,518,197 shares of the medical research company’s stock worth $14,226,000 after buying an additional 1,061,531 shares during the period. Ark Investment Management LLC grew its position in shares of InVitae by 30.4% during the 2nd quarter. Ark Investment Management LLC now owns 982,170 shares of the medical research company’s stock worth $9,390,000 after buying an additional 229,189 shares during the period. State Street Corp grew its position in shares of InVitae by 43.1% during the 2nd quarter. State Street Corp now owns 577,978 shares of the medical research company’s stock worth $5,528,000 after buying an additional 174,016 shares during the period. Finally, Northern Trust Corp grew its position in shares of InVitae by 39.0% during the 2nd quarter. Northern Trust Corp now owns 433,113 shares of the medical research company’s stock worth $4,140,000 after buying an additional 121,409 shares during the period. 64.67% of the stock is owned by hedge funds and other institutional investors.

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InVitae Company Profile

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.

Earnings History and Estimates for InVitae (NYSE:NVTA)

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