InVitae Corp (NYSE:NVTA) Receives $25.00 Consensus Target Price from Brokerages

Shares of InVitae Corp (NYSE:NVTA) have received an average recommendation of “Buy” from the seven analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $25.00.

Several equities analysts have recently weighed in on the stock. Benchmark reduced their price objective on shares of InVitae from $31.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. ValuEngine lowered shares of InVitae from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 1st. Oppenheimer reaffirmed a “buy” rating and set a $29.00 price objective on shares of InVitae in a research note on Monday. SVB Leerink upped their price objective on shares of InVitae from $20.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of InVitae from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Tuesday, April 7th.

NYSE:NVTA opened at $27.98 on Tuesday. InVitae has a twelve month low of $7.41 and a twelve month high of $30.23. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 0.97. The company has a 50-day moving average of $17.71 and a 200-day moving average of $17.40. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of -8.80 and a beta of 2.05.

InVitae (NYSE:NVTA) last posted its quarterly earnings data on Tuesday, May 5th. The medical research company reported ($0.80) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.84) by $0.04. InVitae had a negative net margin of 127.42% and a negative return on equity of 69.95%. The company had revenue of $64.25 million during the quarter, compared to analyst estimates of $59.41 million. During the same quarter last year, the firm posted ($0.47) EPS. The business’s revenue for the quarter was up 58.4% on a year-over-year basis. On average, research analysts forecast that InVitae will post -2.47 earnings per share for the current year.

In other InVitae news, CFO Shelly D. Guyer sold 5,250 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $16.70, for a total transaction of $87,675.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sean E. George sold 25,500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $16.70, for a total value of $425,850.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,580 shares of company stock worth $1,547,142. Insiders own 2.90% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Nikko Asset Management Americas Inc. grew its position in InVitae by 30.2% during the first quarter. Nikko Asset Management Americas Inc. now owns 13,092,125 shares of the medical research company’s stock worth $178,969,000 after buying an additional 3,035,085 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of InVitae by 29.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,043,141 shares of the medical research company’s stock valued at $178,300,000 after acquiring an additional 2,986,101 shares in the last quarter. State Street Corp boosted its holdings in shares of InVitae by 27.5% in the fourth quarter. State Street Corp now owns 6,107,351 shares of the medical research company’s stock valued at $98,512,000 after acquiring an additional 1,318,766 shares in the last quarter. Norges Bank purchased a new stake in shares of InVitae in the fourth quarter valued at about $19,577,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of InVitae by 251.7% in the first quarter. Bank of New York Mellon Corp now owns 1,403,688 shares of the medical research company’s stock valued at $19,187,000 after acquiring an additional 1,004,572 shares in the last quarter. Institutional investors own 81.56% of the company’s stock.

About InVitae

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. Its tests include genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; and screening and testing services in reproductive health, including preimplantation and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.

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Analyst Recommendations for InVitae (NYSE:NVTA)

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