InVitae Corp to Post Q1 2017 Earnings of ($0.56) Per Share, Leerink Swann Forecasts (NVTA)
InVitae Corp (NASDAQ:NVTA) – Analysts at Leerink Swann issued their Q1 2017 earnings estimates for InVitae Corp in a research report issued to clients and investors on Wednesday. Leerink Swann analyst P. Souda expects that the firm will earn ($0.56) per share for the quarter. Leerink Swann has a “Outperform” rating and a $12.00 price objective on the stock. Leerink Swann also issued estimates for InVitae Corp’s Q2 2017 earnings at ($0.58) EPS, Q3 2017 earnings at ($0.55) EPS, Q4 2017 earnings at ($0.45) EPS and FY2019 earnings at $0.64 EPS.
NVTA has been the subject of several other reports. TheStreet lowered InVitae Corp from a “hold” rating to a “sell” rating in a report on Thursday, September 15th. Zacks Investment Research upgraded InVitae Corp from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a report on Saturday, October 15th. JPMorgan Chase & Co. increased their price objective on InVitae Corp from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, August 9th. Finally, Benchmark Co. reiterated a “neutral” rating on shares of InVitae Corp in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $10.81.
Shares of InVitae Corp (NASDAQ:NVTA) opened at 9.00 on Friday. The firm’s market cap is $290.39 million. InVitae Corp has a 52 week low of $5.66 and a 52 week high of $11.85. The firm’s 50-day moving average price is $7.91 and its 200 day moving average price is $8.40.
InVitae Corp (NASDAQ:NVTA) last announced its quarterly earnings data on Monday, November 7th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.72) by $0.05. The business earned $6.30 million during the quarter, compared to analysts’ expectations of $7.50 million. During the same quarter in the prior year, the firm earned ($0.71) EPS. The firm’s quarterly revenue was up 186.4% compared to the same quarter last year.
A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in InVitae Corp by 1.2% in the third quarter. BlackRock Inc. now owns 33,064 shares of the company’s stock valued at $290,000 after buying an additional 408 shares during the last quarter. Bank of New York Mellon Corp increased its position in InVitae Corp by 1.9% in the third quarter. Bank of New York Mellon Corp now owns 64,269 shares of the company’s stock valued at $563,000 after buying an additional 1,186 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position 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 valued at $330,000 after buying an additional 21,794 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in InVitae Corp during the second quarter valued at approximately $142,000. Finally, Polar Capital LLP acquired a new position in InVitae Corp during the second quarter valued at approximately $406,000.
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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