InVitae Corp (NASDAQ:NVTA) Expected to Announce Earnings of -$0.61 Per Share
Wall Street brokerages predict that InVitae Corp (NASDAQ:NVTA) will announce earnings of ($0.61) per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for InVitae Corp’s earnings, with estimates ranging from ($0.65) to ($0.57). InVitae Corp reported earnings per share of ($0.77) during the same quarter last year, which would suggest a positive year over year growth rate of 20.8%. The company is expected to announce its next earnings report on Monday, August 14th.
On average, analysts expect that InVitae Corp will report full year earnings of ($2.38) per share for the current fiscal year, with EPS estimates ranging from ($2.48) to ($2.31). For the next financial year, analysts forecast that the firm will post earnings of ($1.65) per share, with EPS estimates ranging from ($1.84) to ($1.51). Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow InVitae Corp.
InVitae Corp (NASDAQ:NVTA) last released its quarterly earnings results on Tuesday, May 9th. The medical research company reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.04. The business had revenue of $10.34 million during the quarter, compared to analyst estimates of $10.90 million. InVitae Corp had a negative return on equity of 119.10% and a negative net margin of 260.48%. InVitae Corp’s quarterly revenue was up 161.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.80) EPS.
A number of analysts recently issued reports on the company. Benchmark Co. reiterated a “buy” rating and issued a $16.00 price target (up previously from $11.00) on shares of InVitae Corp in a report on Monday, April 3rd. ValuEngine downgraded shares of InVitae Corp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 23rd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $12.69.
Several institutional investors have recently modified their holdings of NVTA. Donald L. Hagan LLC acquired a new position in shares of InVitae Corp during the first quarter worth about $111,000. Verity Asset Management Inc. acquired a new position in shares of InVitae Corp during the first quarter worth about $116,000. Nationwide Fund Advisors increased its position in shares of InVitae Corp by 21.1% in the first quarter. Nationwide Fund Advisors now owns 17,121 shares of the medical research company’s stock worth $189,000 after buying an additional 2,987 shares during the last quarter. American International Group Inc. increased its position in shares of InVitae Corp by 31.3% in the first quarter. American International Group Inc. now owns 17,174 shares of the medical research company’s stock worth $190,000 after buying an additional 4,090 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of InVitae Corp during the first quarter worth about $200,000.
InVitae Corp (NVTA) traded up 0.88% on Thursday, reaching $9.22. The company’s stock had a trading volume of 151,922 shares. The firm has a 50-day moving average of $9.21 and a 200-day moving average of $9.50. The company’s market capitalization is $390.14 million. InVitae Corp has a one year low of $5.76 and a one year high of $11.88.
InVitae Corp Company Profile
Invitae Corporation 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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