Natera (NTRA) Earns Buy Rating from Canaccord Genuity
Canaccord Genuity reiterated their buy rating on shares of Natera (NASDAQ:NTRA) in a report released on Monday morning. The brokerage currently has a $25.00 price target on the medical research company’s stock.
“We’re positive on the deal, which provides NTRA with $50M of non-dilutive financing upfront, royalties on future BGI revenues, and further decentralization of its testing OUS. We don’t understand why the stock is not up 10-15%+ on this news; regardless, we view this deal as a material positive and would buy NTRA stock here. Natera is one of our top picks for 2019 and trades at just 2.9x Street ’20 revs (below its peak of ~5x just 7 months ago). We reiterate our $25 PT and turn our focus to NTRA’s Q4 call tomorrow night. The deal. Under the 10-year agreement, BGI will pay Natera $50 million in upfront licensing fees and prepaid royalties in Q1. Natera will also receive ongoing royalty payments. Natera will prepay BGI Genomics $6M for sequencing services related to this partnership.”,” Canaccord Genuity’s analyst commented.
A number of other research firms also recently issued reports on NTRA. ValuEngine downgraded shares of Natera from a strong-buy rating to a buy rating in a research report on Wednesday, January 9th. BidaskClub downgraded shares of Natera from a sell rating to a strong sell rating in a research report on Tuesday, November 13th. Finally, Zacks Investment Research downgraded shares of Natera from a hold rating to a sell rating in a research report on Thursday, January 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Natera currently has a consensus rating of Buy and an average price target of $27.75.
Natera (NASDAQ:NTRA) last posted its quarterly earnings data on Tuesday, March 12th. The medical research company reported ($0.51) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.51). Natera had a negative net margin of 49.72% and a negative return on equity of 1,214.02%. The company had revenue of $67.00 million during the quarter, compared to the consensus estimate of $62.87 million. On average, analysts expect that Natera will post -1.59 earnings per share for the current fiscal year.
In other Natera news, COO Steven Leonard Chapman sold 3,410 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $16.00, for a total value of $54,560.00. Following the completion of the sale, the chief operating officer now owns 10,299 shares of the company’s stock, valued at $164,784. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Burkes Brophy sold 3,192 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $16.00, for a total transaction of $51,072.00. Following the completion of the sale, the chief financial officer now directly owns 13,422 shares of the company’s stock, valued at approximately $214,752. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,838 shares of company stock valued at $263,917. Corporate insiders own 13.18% of the company’s stock.
Large investors have recently modified their holdings of the business. Perceptive Advisors LLC acquired a new stake in Natera in the third quarter valued at approximately $575,000. Harvard Management Co. Inc. acquired a new stake in Natera in the third quarter valued at approximately $15,297,000. Federated Investors Inc. PA acquired a new stake in Natera in the third quarter valued at approximately $797,000. GSA Capital Partners LLP acquired a new stake in Natera in the third quarter valued at approximately $312,000. Finally, Worth Venture Partners LLC acquired a new stake in Natera in the third quarter valued at approximately $479,000. 90.05% of the stock is owned by institutional investors.
Natera, Inc, a diagnostics company, provides preconception and prenatal genetic testing services. It primarily offers Panorama, a non-invasive prenatal test that screens for chromosomal abnormalities of a fetus with a blood draw from the mother; Vistara, a single-gene mutations screening test to identify single-gene disorder; Horizon carrier screening to determine carrier status for various genetic diseases that could be passed on to the carrier's children; and Spectrum pre-implantation genetic screening and Spectrum pre-implantation genetic diagnosis to analyze chromosomal anomalies or inherited genetic conditions during an in vitro fertilization cycle.
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