Invitae Co. (NYSE:NVTA) Receives $42.50 Average Target Price from Brokerages

Invitae Co. (NYSE:NVTA) has received a consensus recommendation of “Hold” from the ten brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $42.50.

Several research analysts have recently issued reports on the company. Oppenheimer upgraded Invitae from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a research report on Monday, April 5th. They noted that the move was a valuation call. SVB Leerink cut their price target on Invitae from $65.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, May 5th. LADENBURG THALM/SH SH upgraded Invitae from a “neutral” rating to a “buy” rating and boosted their price target for the company from $46.50 to $58.00 in a report on Thursday, February 18th. The Goldman Sachs Group began coverage on Invitae in a research report on Thursday, June 3rd. They issued a “neutral” rating and a $33.00 target price on the stock. Finally, Morgan Stanley lowered their target price on Invitae from $45.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 6th.

In related news, CEO Sean E. George sold 27,417 shares of the stock in a transaction on Monday, March 15th. The stock was sold at an average price of $42.90, for a total value of $1,176,189.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Katherine Stueland sold 12,443 shares of the stock in a transaction on Monday, March 15th. The shares were sold at an average price of $42.90, for a total value of $533,804.70. The disclosure for this sale can be found here. Insiders have sold 127,475 shares of company stock valued at $4,735,708 over the last quarter. Company insiders own 2.90% of the company’s stock.

A number of institutional investors have recently modified their holdings of NVTA. Evoke Wealth LLC bought a new position in shares of Invitae during the 1st quarter worth about $26,000. Abundance Wealth Counselors bought a new position in shares of Invitae during the 1st quarter worth approximately $29,000. Orion Capital Management LLC bought a new position in shares of Invitae during the 4th quarter worth approximately $31,000. Baldwin Brothers Inc. MA bought a new position in shares of Invitae during the 1st quarter worth approximately $31,000. Finally, Wealthcare Advisory Partners LLC bought a new position in shares of Invitae during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 90.22% of the company’s stock.

Shares of NVTA stock opened at $31.29 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.35 and a quick ratio of 5.14. The company has a market cap of $6.25 billion, a P/E ratio of -7.88 and a beta of 1.91. Invitae has a 12 month low of $15.22 and a 12 month high of $61.59. The stock has a 50 day moving average price of $32.36.

Invitae (NYSE:NVTA) last released its earnings results on Tuesday, May 4th. The medical research company reported ($0.63) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by ($0.03). The firm had revenue of $103.60 million during the quarter, compared to analyst estimates of $101.46 million. Invitae had a negative net margin of 194.99% and a negative return on equity of 31.82%. The firm’s quarterly revenue was up 61.2% on a year-over-year basis. During the same period last year, the business posted ($1.03) earnings per share. On average, equities analysts expect that Invitae will post -2.61 EPS for the current year.

Invitae Company Profile

Invitae Corporation, a medical genetics company, integrates genetic information into healthcare decision-making by clinicians and patients in the United States, Canada, and internationally. The company offers genetic tests in various clinical areas, including hereditary cancer, cardiology, neurology, pediatrics, oncology, metabolic conditions, and rare diseases.

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Analyst Recommendations for Invitae (NYSE:NVTA)

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