InVitae Corp (NVTA) to Post Q1 2018 Earnings of ($0.63) Per Share, Leerink Swann Forecasts

InVitae Corp (NYSE:NVTA) – Stock analysts at Leerink Swann cut their Q1 2018 EPS estimates for shares of InVitae in a research note issued to investors on Tuesday. Leerink Swann analyst P. Souda now anticipates that the medical research company will earn ($0.63) per share for the quarter, down from their prior estimate of ($0.56). Leerink Swann currently has a “Outperform” rating and a $10.00 target price on the stock. Leerink Swann also issued estimates for InVitae’s Q2 2018 earnings at ($0.63) EPS, Q3 2018 earnings at ($0.60) EPS, Q4 2018 earnings at ($0.53) EPS, FY2018 earnings at ($2.38) EPS, Q1 2019 earnings at ($0.57) EPS, Q2 2019 earnings at ($0.52) EPS, Q3 2019 earnings at ($0.45) EPS, Q4 2019 earnings at ($0.35) EPS and FY2019 earnings at ($1.89) EPS.

Several other research firms have also recently weighed in on NVTA. BidaskClub cut shares of InVitae from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Zacks Investment Research cut shares of InVitae from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Ladenburg Thalmann Financial Services assumed coverage on shares of InVitae in a report on Friday, January 5th. They issued a “buy” rating and a $15.00 price target on the stock. Benchmark cut their price target on shares of InVitae from $16.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, January 16th. Finally, ValuEngine cut shares of InVitae from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Three research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.00.

InVitae (NYSE:NVTA) opened at $6.16 on Thursday. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.33. InVitae has a fifty-two week low of $3.80 and a fifty-two week high of $10.41. The stock has a market cap of $322.44, a P/E ratio of -2.32 and a beta of 0.81.

InVitae (NYSE:NVTA) last issued its earnings results on Monday, February 12th. The medical research company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.17). InVitae had a negative return on equity of 134.68% and a negative net margin of 180.85%. The firm had revenue of $25.40 million during the quarter, compared to the consensus estimate of $24.18 million. During the same quarter in the prior year, the business posted ($0.69) EPS. The firm’s revenue for the quarter was up 175.0% on a year-over-year basis.

A number of large investors have recently added to or reduced their stakes in NVTA. Schwab Charles Investment Management Inc. boosted its holdings in InVitae by 20.2% in the second 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 boosted its holdings in InVitae by 55.3% in the second 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 bought a new stake in InVitae in the second quarter valued at $438,000. Alliancebernstein L.P. bought a new stake in InVitae in the second quarter valued at $227,000. Finally, Teachers Advisors LLC boosted its holdings in InVitae by 35.3% in the second 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. Institutional investors and hedge funds 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.

Earnings History and Estimates for InVitae (NYSE:NVTA)

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