FY2017 Earnings Forecast for InVitae Corp (NVTA) Issued By William Blair
InVitae Corp (NASDAQ:NVTA) – Research analysts at William Blair raised their FY2017 earnings estimates for InVitae Corp in a report released on Tuesday. William Blair analyst A. Murphy now anticipates that the medical research company will post earnings of ($2.39) per share for the year, up from their previous forecast of ($2.48). William Blair also issued estimates for InVitae Corp’s FY2018 earnings at ($1.67) EPS.
Several other research analysts also recently commented on NVTA. Zacks Investment Research raised shares of InVitae Corp from a “sell” rating to a “hold” rating in a report on Friday, August 11th. J P Morgan Chase & Co reissued an “overweight” rating and issued a $15.00 price target (up from $14.00) on shares of InVitae Corp in a report on Wednesday, August 9th. BidaskClub downgraded shares of InVitae Corp from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, ValuEngine raised shares of InVitae Corp from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $12.94.
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InVitae Corp (NVTA) opened at 9.55 on Friday. The firm’s market capitalization is $415.85 million. The stock’s 50 day moving average is $9.56 and its 200 day moving average is $9.82. InVitae Corp has a one year low of $5.76 and a one year high of $11.88.
InVitae Corp (NASDAQ:NVTA) last announced its quarterly earnings data 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 net margin of 199.20% and a negative return on equity of 153.27%. The firm had revenue of $14.34 million for the quarter, compared to analyst estimates of $13.31 million. During the same quarter in the prior year, the firm earned ($0.77) earnings per share. The firm’s revenue for the quarter was up 157.0% on a year-over-year basis.
Several hedge funds have recently bought and sold shares of NVTA. Renaissance Technologies LLC bought a new stake in InVitae Corp during the fourth quarter worth about $879,000. HighTower Advisors LLC increased its stake in 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 in the last quarter. Donald L. Hagan LLC increased its stake in InVitae Corp by 30.0% in the second quarter. Donald L. Hagan LLC now owns 13,000 shares of the medical research company’s stock worth $124,000 after buying an additional 3,000 shares in the last quarter. State Street Corp increased its stake in 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 in the last quarter. Finally, Highbridge Capital Management LLC bought a new stake in InVitae Corp during the first quarter worth about $302,000.
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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