Leerink Swann Comments on InVitae Corp’s FY2017 Earnings (NVTA)
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) 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.
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.
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