InVitae Corp (NASDAQ:NVTA) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday. The brokerage currently has a $11.00 price target on the medical research company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.70% from the company’s previous close.

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. BidaskClub cut shares of InVitae Corp from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. J P Morgan Chase & Co reissued an “overweight” rating and set a $15.00 price target (up from $14.00) on shares of InVitae Corp in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $13.50.

InVitae Corp (NASDAQ:NVTA) last issued its quarterly earnings results on Monday, August 7th. The medical research company reported ($0.66) EPS 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 business had revenue of $14.34 million for the quarter, compared to the consensus estimate of $13.31 million. During the same period last year, the firm earned ($0.77) earnings per share. The company’s quarterly revenue was up 157.0% compared to the same quarter last year.

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Hedge funds have recently modified their holdings of the company. Verity Asset Management Inc. raised its holdings in shares of InVitae Corp by 0.8% in the 2nd quarter. Verity Asset Management Inc. now owns 10,607 shares of the medical research company’s stock valued at $101,000 after purchasing an additional 81 shares during the period. Donald L. Hagan LLC raised its holdings in shares of InVitae Corp by 30.0% in the 2nd quarter. Donald L. Hagan LLC now owns 13,000 shares of the medical research company’s stock valued at $124,000 after purchasing an additional 3,000 shares during the period. Voya Investment Management LLC raised its holdings in shares of InVitae Corp by 51.2% in the 2nd quarter. Voya Investment Management LLC now owns 16,936 shares of the medical research company’s stock valued at $162,000 after purchasing an additional 5,733 shares during the period. Nationwide Fund Advisors raised its holdings in shares of InVitae Corp by 21.1% in the 1st quarter. Nationwide Fund Advisors now owns 17,121 shares of the medical research company’s stock valued at $189,000 after purchasing an additional 2,987 shares during the period. Finally, American International Group Inc. raised its holdings in shares of InVitae Corp by 31.3% in the 1st quarter. American International Group Inc. now owns 17,174 shares of the medical research company’s stock valued at $190,000 after purchasing an additional 4,090 shares during the period.

About InVitae Corp

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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