Invitae (NYSE:NVTA) had its target price increased by stock analysts at SVB Leerink from $64.00 to $65.00 in a report released on Thursday. The firm currently has an "outperform" rating on the medical research company's stock. SVB Leerink's price objective would indicate a potential upside of 57.58% from the company's previous close. SVB Leerink also issued estimates for Invitae's Q1 2021 earnings at ($0.56) EPS, Q2 2021 earnings at ($0.55) EPS, Q3 2021 earnings at ($0.52) EPS, Q4 2021 earnings at ($0.51) EPS, FY2021 earnings at ($2.15) EPS, Q1 2022 earnings at ($0.47) EPS, Q2 2022 earnings at ($0.45) EPS, Q3 2022 earnings at ($0.39) EPS, Q4 2022 earnings at ($0.36) EPS and FY2022 earnings at ($1.67) EPS.
Several other equities analysts have also weighed in on the stock. Oppenheimer lowered shares of Invitae from an "outperform" rating to a "market perform" rating in a research report on Monday, February 1st. They noted that the move was a valuation call. LADENBURG THALM/SH SH upgraded shares of Invitae from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $46.50 to $58.00 in a report on Thursday. Zacks Investment Research downgraded shares of Invitae from a "hold" rating to a "sell" rating in a report on Tuesday. Finally, Morgan Stanley raised their price objective on shares of Invitae from $41.00 to $45.00 and gave the stock an "equal weight" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of "Hold" and a consensus target price of $45.88.
Shares of NYSE:NVTA traded down $0.84 during mid-day trading on Thursday, hitting $41.25. 66,980 shares of the company traded hands, compared to its average volume of 4,200,843. The stock has a market cap of $7.29 billion, a P/E ratio of -10.49 and a beta of 2.11. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.68. Invitae has a 12-month low of $7.41 and a 12-month high of $61.59. The stock has a 50-day moving average price of $50.72 and a two-hundred day moving average price of $45.10.
Invitae (NYSE:NVTA) last announced its earnings results on Tuesday, February 16th. The medical research company reported ($0.63) earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of ($0.55) by ($0.08). The company had revenue of $100.43 million for the quarter, compared to analysts' expectations of $97.87 million. Invitae had a negative net margin of 183.50% and a negative return on equity of 81.19%. As a group, analysts expect that Invitae will post -2.69 earnings per share for the current year.
In other news, COO Kenneth D. Knight sold 3,622 shares of the firm's stock in a transaction that occurred on Thursday, December 24th. The shares were sold at an average price of $50.50, for a total value of $182,911.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Katherine Stueland sold 34,300 shares of the firm's stock in a transaction that occurred on Monday, December 14th. The shares were sold at an average price of $58.43, for a total transaction of $2,004,149.00. The disclosure for this sale can be found here. Insiders sold 687,539 shares of company stock valued at $34,148,670 in the last quarter. Corporate insiders own 2.90% of the company's stock.
Several hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC bought a new position in shares of Invitae in the fourth quarter valued at approximately $2,027,000. Virtu Financial LLC boosted its position in shares of Invitae by 32.9% in the fourth quarter. Virtu Financial LLC now owns 52,699 shares of the medical research company's stock valued at $2,203,000 after acquiring an additional 13,043 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Invitae in the fourth quarter valued at approximately $1,279,000. Principal Financial Group Inc. boosted its position in shares of Invitae by 50.0% in the fourth quarter. Principal Financial Group Inc. now owns 56,786 shares of the medical research company's stock valued at $2,374,000 after acquiring an additional 18,934 shares during the period. Finally, Orion Capital Management LLC bought a new stake in Invitae during the fourth quarter valued at approximately $31,000. Institutional investors own 78.60% of the company's stock.
Invitae Company Profile
Invitae Corporation, a medical genetics company, processes DNA-containing samples, analyzes information related to patient-specific genetic variation, and generates test reports for clinicians and their patients in the United States, Canada, and internationally. It offers genetic tests in various clinical areas, including hereditary cancer, cardiology, neurology, pediatrics, metabolic conditions, and rare diseases; prenatal and perinatal genetic tests; and non-invasive prenatal screening products.
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