Leerink Swann Comments on InVitae Corp’s FY2016 Earnings (NVTA)
InVitae Corp (NASDAQ:NVTA) – Equities researchers at Leerink Swann issued their FY2016 earnings per share estimates for shares of InVitae Corp in a note issued to investors on Wednesday. Leerink Swann analyst P. Souda anticipates that the brokerage will earn ($3.04) per share for the year. Leerink Swann currently has a “Outperform” rating and a $12.00 price target on the stock. Leerink Swann also issued estimates for InVitae Corp’s Q4 2016 earnings at ($0.70) EPS, FY2017 earnings at ($2.13) EPS and FY2018 earnings at ($0.84) EPS.
A number of other equities research analysts also recently weighed in on NVTA. JPMorgan Chase & Co. raised their price objective on InVitae Corp from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, August 9th. Zacks Investment Research raised InVitae Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 30th. TheStreet downgraded InVitae Corp from a “hold” rating to a “sell” rating in a research report on Thursday, September 15th. Finally, Benchmark Co. reaffirmed a “neutral” rating on shares of InVitae Corp in a research report on Tuesday, November 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $10.81.
Shares of InVitae Corp (NASDAQ:NVTA) opened at 8.53 on Monday. The stock’s market cap is $276.76 million. InVitae Corp has a 52-week low of $5.66 and a 52-week high of $11.85. The stock’s 50 day moving average is $7.91 and its 200 day moving average is $8.35.
InVitae Corp (NASDAQ:NVTA) last released its quarterly earnings results on Monday, November 7th. The company reported ($0.77) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.72) by $0.05. The firm had revenue of $6.30 million for the quarter, compared to analysts’ expectations of $7.50 million. During the same period in the prior year, the firm earned ($0.71) earnings per share. The firm’s revenue was up 186.4% on a year-over-year basis.
A number of large investors have recently modified their holdings of NVTA. Baker BROS. Advisors LP acquired a new stake in shares of InVitae Corp during the third quarter valued at $57,422,000. Rock Springs Capital Management LP increased its stake in shares of InVitae Corp by 3.7% in the third quarter. Rock Springs Capital Management LP now owns 890,000 shares of the company’s stock valued at $7,796,000 after buying an additional 31,620 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of InVitae Corp by 7.0% in the second quarter. Vanguard Group Inc. now owns 636,857 shares of the company’s stock valued at $4,706,000 after buying an additional 41,420 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of InVitae Corp by 8.2% in the third quarter. BlackRock Fund Advisors now owns 631,496 shares of the company’s stock valued at $5,532,000 after buying an additional 47,782 shares in the last quarter. Finally, BlackRock Investment Management LLC increased its stake in shares of InVitae Corp by 20.2% in the second quarter. BlackRock Investment Management LLC now owns 354,076 shares of the company’s stock valued at $2,617,000 after buying an additional 59,453 shares in the last quarter.
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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