InVitae Corp (NASDAQ:NVTA) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $11.00 target price on the medical research company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 10.66% from the company’s previous close.
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. “
NVTA has been the topic of several other research reports. BidaskClub cut shares of InVitae Corp from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $15.00 price objective (up previously from $14.00) on shares of InVitae Corp in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. InVitae Corp has an average rating of “Buy” and a consensus price target of $13.50.
Shares of InVitae Corp (NVTA) opened at 9.94 on Wednesday. The company’s 50-day moving average is $9.36 and its 200-day moving average is $9.36. The company’s market cap is $432.83 million. InVitae Corp has a 12-month low of $5.76 and a 12-month high of $10.96.
InVitae Corp (NASDAQ:NVTA) last released its quarterly earnings data on Monday, August 7th. The medical research company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.02). The company had revenue of $14.34 million for the quarter, compared to the consensus estimate of $13.31 million. InVitae Corp had a negative net margin of 199.20% and a negative return on equity of 153.27%. The company’s quarterly revenue was up 157.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.77) EPS. Equities research analysts predict that InVitae Corp will post ($2.35) earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Verity Asset Management Inc. increased its position in InVitae Corp by 0.8% in the second quarter. Verity Asset Management Inc. now owns 10,607 shares of the medical research company’s stock worth $101,000 after purchasing an additional 81 shares during the last quarter. Donald L. Hagan LLC increased its position in InVitae Corp by 30.0% in the second quarter. Donald L. Hagan LLC now owns 13,000 shares of the medical research company’s stock worth $124,000 after purchasing an additional 3,000 shares during the last quarter. Voya Investment Management LLC increased its position in InVitae Corp by 51.2% in the second quarter. Voya Investment Management LLC now owns 16,936 shares of the medical research company’s stock worth $162,000 after purchasing an additional 5,733 shares during the last quarter. Nationwide Fund Advisors increased its position in InVitae Corp by 21.1% in the first quarter. Nationwide Fund Advisors now owns 17,121 shares of the medical research company’s stock worth $189,000 after purchasing an additional 2,987 shares during the last quarter. Finally, American International Group Inc. increased its position in InVitae Corp by 31.3% in the first quarter. American International Group Inc. now owns 17,174 shares of the medical research company’s stock worth $190,000 after purchasing an additional 4,090 shares during the last quarter.
InVitae Corp 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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