Wall Street analysts forecast that InVitae Corp (NYSE:NVTA) will post sales of $70.71 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for InVitae’s earnings. The highest sales estimate is $72.20 million and the lowest is $69.90 million. InVitae reported sales of $45.36 million in the same quarter last year, which indicates a positive year over year growth rate of 55.9%. The business is expected to announce its next quarterly earnings report on Tuesday, February 18th.

According to Zacks, analysts expect that InVitae will report full year sales of $220.88 million for the current financial year, with estimates ranging from $220.40 million to $221.32 million. For the next year, analysts forecast that the business will report sales of $332.18 million, with estimates ranging from $314.30 million to $364.90 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover InVitae.

InVitae (NYSE:NVTA) last released its earnings results on Wednesday, November 6th. The medical research company reported ($0.69) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.52) by ($0.17). The firm had revenue of $56.51 million for the quarter, compared to analyst estimates of $55.00 million. InVitae had a negative return on equity of 58.90% and a negative net margin of 99.49%.

Several research analysts recently weighed in on NVTA shares. Zacks Investment Research cut InVitae from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Leerink Swann set a $31.00 price target on InVitae and gave the company a “buy” rating in a research report on Wednesday, August 7th. Benchmark reiterated a “buy” rating and set a $28.00 price target (up from $26.00) on shares of InVitae in a research report on Wednesday, August 7th. Chardan Capital set a $32.00 price target on InVitae and gave the company a “buy” rating in a research report on Sunday, August 25th. Finally, Oppenheimer set a $34.00 price target on InVitae and gave the company a “buy” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. InVitae currently has an average rating of “Buy” and a consensus price target of $27.83.

Shares of NVTA stock opened at $18.82 on Tuesday. The stock has a 50 day moving average of $17.92 and a 200 day moving average of $20.86. The company has a current ratio of 7.38, a quick ratio of 7.38 and a debt-to-equity ratio of 0.77. The stock has a market cap of $1.81 billion, a P/E ratio of -9.70 and a beta of 2.53. InVitae has a twelve month low of $9.04 and a twelve month high of $28.75.

In related news, insider Katherine Stueland sold 3,788 shares of InVitae stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $21.40, for a total transaction of $81,063.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.70% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Metropolitan Life Insurance Co NY increased its position in shares of InVitae by 27.7% in the third quarter. Metropolitan Life Insurance Co NY now owns 28,437 shares of the medical research company’s stock valued at $548,000 after buying an additional 6,164 shares in the last quarter. California State Teachers Retirement System increased its position in shares of InVitae by 1.2% in the third quarter. California State Teachers Retirement System now owns 135,029 shares of the medical research company’s stock valued at $2,602,000 after buying an additional 1,613 shares in the last quarter. Stifel Financial Corp purchased a new stake in shares of InVitae in the third quarter valued at approximately $247,000. Virtu Financial LLC purchased a new stake in shares of InVitae in the third quarter valued at approximately $290,000. Finally, Cetera Advisor Networks LLC increased its position in shares of InVitae by 68.7% in the third quarter. Cetera Advisor Networks LLC now owns 39,525 shares of the medical research company’s stock valued at $781,000 after buying an additional 16,100 shares in the last quarter. Institutional investors and hedge funds own 94.47% of the company’s stock.

InVitae Company Profile

Invitae Corporation, a genetic information company, processes DNA-containing samples, analyzes information related to patient-specific genetic variation, and generates test reports for clinicians and their patients in the United States, Canada, and internationally. Its tests include genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; and screening and testing services in reproductive health, including preimplantation and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.

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