InVitae (NVTA) PT Lowered to $9.00 at JPMorgan Chase & Co.

InVitae (NYSE:NVTA) had its price target cut by research analysts at JPMorgan Chase & Co. from $13.00 to $9.00 in a research note issued to investors on Tuesday. The firm presently has an “overweight” rating on the medical research company’s stock. JPMorgan Chase & Co.’s price target would indicate a potential upside of 58.17% from the company’s previous close.

NVTA has been the subject of a number of other reports. Benchmark cut their target price on InVitae from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday. ValuEngine downgraded InVitae from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Leerink Swann cut their target price on InVitae from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday, January 16th. Ladenburg Thalmann Financial Services started coverage on InVitae in a research report on Friday, January 5th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Zacks Investment Research downgraded InVitae from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Three equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $11.00.

Shares of InVitae (NYSE NVTA) traded down $0.60 during midday trading on Tuesday, hitting $5.69. The stock had a trading volume of 1,411,075 shares, compared to its average volume of 1,023,487. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.61 and a current ratio of 2.61. The firm has a market capitalization of $333.03 and a P/E ratio of -2.24. InVitae has a fifty-two week low of $3.80 and a fifty-two week high of $10.41.

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

Hedge funds and other institutional investors have recently bought and sold shares of the business. Perceptive Advisors LLC raised its stake in InVitae by 190.1% during the 3rd quarter. Perceptive Advisors LLC now owns 1,884,500 shares of the medical research company’s stock valued at $17,657,000 after purchasing an additional 1,235,000 shares during the period. Orbimed Advisors LLC raised its stake in InVitae by 232.5% during the 3rd quarter. Orbimed Advisors LLC now owns 1,518,197 shares of the medical research company’s stock valued at $14,226,000 after purchasing an additional 1,061,531 shares during the period. ARK Investment Management LLC raised its stake in InVitae by 44.1% during the 4th quarter. ARK Investment Management LLC now owns 2,104,798 shares of the medical research company’s stock valued at $19,112,000 after purchasing an additional 643,860 shares during the period. Ark Investment Management LLC raised its stake in InVitae by 30.4% during the 2nd quarter. Ark Investment Management LLC now owns 982,170 shares of the medical research company’s stock valued at $9,390,000 after purchasing an additional 229,189 shares during the period. Finally, State Street Corp raised its stake in InVitae by 43.1% during the 2nd quarter. State Street Corp now owns 577,978 shares of the medical research company’s stock valued at $5,528,000 after purchasing an additional 174,016 shares during the period. 65.12% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This story was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The legal version of this story can be accessed at https://www.americanbankingnews.com/2018/02/13/invitae-nvta-pt-lowered-to-9-00-at-jpmorgan-chase-co.html.

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.

Receive News & Ratings for InVitae Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InVitae and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply