SVB Leerink reissued their buy rating on shares of Invitae (NYSE:NVTA) in a research note released on Thursday morning, Analyst Ratings Network reports.
Other research analysts have also recently issued research reports about the stock. The Goldman Sachs Group began coverage on shares of Invitae in a research report on Thursday, June 3rd. They set a neutral rating and a $33.00 price target on the stock. Raymond James started coverage on shares of Invitae in a research report on Tuesday, June 15th. They issued an outperform rating and a $37.00 target price on the stock. Wells Fargo & Company upped their target price on shares of Invitae from $30.00 to $35.00 and gave the company an equal weight rating in a research report on Monday, June 21st. Morgan Stanley decreased their target price on shares of Invitae from $41.00 to $40.00 and set an equal weight rating on the stock in a research report on Thursday, August 5th. Finally, Benchmark raised shares of Invitae from a hold rating to a buy rating and set a $35.00 target price on the stock in a research report on Wednesday, August 4th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Invitae presently has an average rating of Buy and a consensus target price of $43.20.
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Shares of NVTA stock opened at $31.17 on Thursday. The company’s 50-day moving average price is $29.00 and its 200-day moving average price is $32.47. The company has a current ratio of 12.30, a quick ratio of 12.08 and a debt-to-equity ratio of 0.59. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of -9.39 and a beta of 1.86. Invitae has a twelve month low of $24.16 and a twelve month high of $61.59.
Invitae (NYSE:NVTA) last announced its quarterly earnings results on Tuesday, August 3rd. The medical research company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.20). The firm had revenue of $116.31 million for the quarter, compared to analyst estimates of $109.53 million. Invitae had a negative net margin of 149.68% and a negative return on equity of 26.29%. As a group, equities research analysts predict that Invitae will post -2.79 EPS for the current year.
In related news, General Counsel Thomas Brida sold 14,438 shares of the company’s stock in a transaction that occurred on Monday, August 16th. The shares were sold at an average price of $25.42, for a total transaction of $367,013.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Robert F. Werner sold 3,012 shares of the company’s stock in a transaction that occurred on Monday, August 16th. The shares were sold at an average price of $25.42, for a total value of $76,565.04. The disclosure for this sale can be found here. Insiders have sold 78,354 shares of company stock worth $2,025,690 over the last quarter. Insiders own 2.90% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Evoke Wealth LLC acquired a new position in Invitae in the first quarter valued at approximately $26,000. Abundance Wealth Counselors acquired a new stake in shares of Invitae in the first quarter valued at approximately $29,000. Wealthcare Advisory Partners LLC acquired a new stake in shares of Invitae in the first quarter valued at approximately $32,000. Arkadios Wealth Advisors boosted its holdings in shares of Invitae by 729.6% in the second quarter. Arkadios Wealth Advisors now owns 1,037 shares of the medical research company’s stock valued at $34,000 after acquiring an additional 912 shares during the period. Finally, Huntington National Bank boosted its holdings in shares of Invitae by 61.6% in the second quarter. Huntington National Bank now owns 1,212 shares of the medical research company’s stock valued at $41,000 after acquiring an additional 462 shares during the period. 87.47% of the stock is owned by hedge funds and other institutional investors.
Invitae Company Profile
Invitae Corp. engages in the provision of genetic information into mainstream medical practice. It includes comprehensive panels for hereditary conditions in cancer, cardiology, neurology, pediatric, and rare diseases. The company was founded by Randal W. Scott and Sean E. George on January 13, 2010 and is headquartered in San Francisco, CA.
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