InVitae Corp (NVTA) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of InVitae Corp (NASDAQ:NVTA) from a hold rating to a buy rating in a research note released on Saturday morning. The firm currently has $8.75 price objective on the stock.
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 reports. Benchmark Co. assumed coverage on shares of InVitae Corp in a research report on Thursday, June 30th. They issued a hold rating and a $8.50 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of InVitae Corp from $12.00 to $14.00 and gave the company an overweight rating in a research report on Tuesday, August 9th. Finally, TheStreet downgraded shares of InVitae Corp from a hold rating to a sell rating in a research report on Thursday, September 15th.
Shares of InVitae Corp (NASDAQ:NVTA) opened at 7.77 on Friday. The firm’s market capitalization is $250.70 million. The stock has a 50 day moving average of $8.19 and a 200 day moving average of $8.83. InVitae Corp has a 52-week low of $5.66 and a 52-week high of $11.85.
InVitae Corp (NASDAQ:NVTA) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.77) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.76) by $0.01. The company had revenue of $5.60 million for the quarter, compared to analysts’ expectations of $5.81 million. The firm’s revenue was up 211.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.76) EPS. On average, analysts predict that InVitae Corp will post ($2.96) EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in NVTA. Rhumbline Advisers bought a new stake in InVitae Corp during the second quarter worth approximately $122,000. Metropolitan Life Insurance Co. NY bought a new stake in InVitae Corp during the second quarter worth approximately $142,000. Schwab Charles Investment Management Inc. increased its stake in InVitae Corp by 95.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 44,528 shares of the company’s stock worth $330,000 after buying an additional 21,794 shares during the period. Teachers Advisors Inc. increased its stake in InVitae Corp by 244.2% in the second quarter. Teachers Advisors Inc. now owns 35,825 shares of the company’s stock worth $265,000 after buying an additional 25,416 shares during the period. Finally, Vanguard Group Inc. increased its stake in InVitae Corp by 7.0% in the second quarter. Vanguard Group Inc. now owns 636,857 shares of the company’s stock worth $4,706,000 after buying an additional 41,420 shares during the period.
InVitae Corp Company Profile
Invitae Corporation (Invitae) 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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