Leerink Swann Comments on InVitae Corp’s Q3 2017 Earnings (NVTA)
InVitae Corp (NASDAQ:NVTA) – Investment analysts at Leerink Swann upped their Q3 2017 earnings per share estimates for shares of InVitae Corp in a research note issued to investors on Tuesday. Leerink Swann analyst P. Souda now anticipates that the medical research company will earn ($0.57) per share for the quarter, up from their previous estimate of ($0.59). Leerink Swann also issued estimates for InVitae Corp’s Q4 2017 earnings at ($0.48) EPS, FY2017 earnings at ($2.31) EPS, Q1 2018 earnings at ($0.49) EPS, Q2 2018 earnings at ($0.29) EPS, Q3 2018 earnings at ($0.23) EPS, Q4 2018 earnings at ($0.16) EPS and FY2018 earnings at ($1.16) EPS.
InVitae Corp (NASDAQ:NVTA) last posted its quarterly earnings data on Monday, August 7th. The medical research company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.64) by $0.02. InVitae Corp had a negative return on equity of 153.27% and a negative net margin of 199.20%. The firm had revenue of $14.34 million for the quarter, compared to analysts’ expectations of $13.31 million. During the same quarter in the previous year, the firm posted ($0.77) earnings per share. The company’s revenue for the quarter was up 157.0% on a year-over-year basis.
Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of InVitae Corp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. ValuEngine cut shares of InVitae Corp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 23rd. BidaskClub upgraded shares of InVitae Corp from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a $15.00 price target (up previously from $14.00) on shares of InVitae Corp in a research note on Wednesday. Three analysts have 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 $12.94.
Shares of InVitae Corp (NASDAQ NVTA) opened at 9.22 on Thursday. The firm’s market cap is $390.14 million. InVitae Corp has a 52 week low of $5.76 and a 52 week high of $11.88. The firm’s 50 day moving average is $9.57 and its 200-day moving average is $9.80.
A number of large investors have recently bought and sold shares of NVTA. Wellington Management Group LLP increased its stake in InVitae Corp by 0.6% in the first quarter. Wellington Management Group LLP now owns 3,974,227 shares of the medical research company’s stock valued at $43,955,000 after buying an additional 25,100 shares in the last quarter. Vanguard Group Inc. increased its position in shares of InVitae Corp by 9.8% in the first quarter. Vanguard Group Inc. now owns 1,206,266 shares of the medical research company’s stock worth $13,341,000 after buying an additional 107,775 shares during the period. State Street Corp increased its position in shares of InVitae Corp by 9.4% in the fourth quarter. State Street Corp now owns 338,514 shares of the medical research company’s stock worth $2,688,000 after buying an additional 29,017 shares during the period. HighTower Advisors LLC increased its position in shares of InVitae Corp by 11.9% in the first quarter. HighTower Advisors LLC now owns 252,744 shares of the medical research company’s stock worth $2,792,000 after buying an additional 26,787 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of InVitae Corp by 9.3% in the first quarter. Geode Capital Management LLC now owns 249,737 shares of the medical research company’s stock worth $2,761,000 after buying an additional 21,267 shares during the period.
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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