InVitae (NVTA) Price Target Cut to $10.00

InVitae (NYSE:NVTA) had its price objective lowered by equities research analysts at Benchmark from $11.00 to $10.00 in a note issued to investors on Tuesday, MarketBeat reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Benchmark’s price objective would suggest a potential upside of 64.20% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. ValuEngine downgraded shares of InVitae from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. BidaskClub downgraded shares of InVitae from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Zacks Investment Research downgraded shares of InVitae from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 17th. Leerink Swann cut their price target on shares of InVitae from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Tuesday, November 7th. Finally, Ladenburg Thalmann Financial Services assumed coverage on shares of InVitae in a report on Friday, January 5th. They set a “buy” rating and a $15.00 target price for the company. Three research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $11.00.

Shares of InVitae (NYSE NVTA) traded down $0.20 on Tuesday, hitting $6.09. 2,640,655 shares of the stock were exchanged, compared to its average volume of 1,095,195. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.61 and a quick ratio of 2.61. The stock has a market cap of $333.03 and a P/E ratio of -2.39. InVitae has a 1-year low of $3.80 and a 1-year high of $10.41.

InVitae (NYSE:NVTA) last announced its quarterly earnings results on Monday, February 12th. The medical research company reported ($0.78) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.61) by ($0.17). The company had revenue of $25.40 million during the quarter, compared to analysts’ expectations of $24.18 million. InVitae had a negative net margin of 206.95% and a negative return on equity of 115.25%. The business’s revenue for the quarter was up 175.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.69) EPS. equities analysts forecast that InVitae will post -2.53 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of NVTA. Schwab Charles Investment Management Inc. increased its holdings in InVitae by 20.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 126,183 shares of the medical research company’s stock valued at $1,207,000 after acquiring an additional 21,189 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in InVitae by 55.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 163,888 shares of the medical research company’s stock valued at $1,567,000 after acquiring an additional 58,339 shares in the last quarter. Swiss National Bank purchased a new position in InVitae during the 2nd quarter valued at about $438,000. Alliancebernstein L.P. purchased a new position in InVitae during the 2nd quarter valued at about $227,000. Finally, Teachers Advisors LLC increased its holdings in InVitae by 35.3% during the 2nd quarter. Teachers Advisors LLC now owns 68,699 shares of the medical research company’s stock valued at $657,000 after acquiring an additional 17,915 shares in the last quarter. Hedge funds and other institutional investors own 65.12% of the company’s stock.

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InVitae Company Profile

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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