Leerink Swann Equities Analysts Raise Earnings Estimates for InVitae Corp (NASDAQ:NVTA)

InVitae Corp (NASDAQ:NVTA) – Equities researchers at Leerink Swann increased their Q3 2017 earnings per share (EPS) estimates for shares of InVitae Corp in a note issued to investors on Tuesday. Leerink Swann analyst P. Souda now forecasts that the medical research company will post earnings of ($0.57) per share for the quarter, up from their previous estimate of ($0.59). Leerink Swann also issued estimates for InVitae Corp’s Q4 2017 earnings at ($0.48) EPS, FY2017 earnings at ($2.31) EPS, Q1 2018 earnings at ($0.49) EPS, Q2 2018 earnings at ($0.29) EPS, Q3 2018 earnings at ($0.23) EPS, Q4 2018 earnings at ($0.16) EPS and FY2018 earnings at ($1.16) EPS.

Several other research firms have also recently commented on NVTA. Zacks Investment Research cut shares of InVitae Corp from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. BidaskClub upgraded shares of InVitae Corp from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. J P Morgan Chase & Co restated an “overweight” rating and set a $15.00 price target (up from $14.00) on shares of InVitae Corp in a report on Wednesday. Finally, ValuEngine upgraded shares of InVitae Corp from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. InVitae Corp presently has a consensus rating of “Hold” and a consensus target price of $12.94.

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InVitae Corp (NVTA) opened at 9.19 on Thursday. The firm’s market cap is $397.25 million. The company has a 50-day moving average price of $9.54 and a 200-day moving average price of $9.79. InVitae Corp has a one year low of $5.76 and a one year high of $11.88.

InVitae Corp (NASDAQ:NVTA) last issued its earnings results on Monday, August 7th. The medical research company reported ($0.66) earnings per share for the quarter, missing the Zacks’ 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 during the quarter, compared to analyst estimates of $13.31 million. During the same quarter in the previous year, the business posted ($0.77) EPS. InVitae Corp’s revenue was up 157.0% compared to the same quarter last year.

Institutional investors have recently bought and sold shares of the stock. TIAA CREF Investment Management LLC boosted its position in InVitae Corp by 32.8% in the first quarter. TIAA CREF Investment Management LLC now owns 121,549 shares of the medical research company’s stock valued at $1,344,000 after buying an additional 30,039 shares in the last quarter. Wellington Management Group LLP boosted its position in InVitae Corp by 0.6% in the first quarter. Wellington Management Group LLP now owns 3,974,227 shares of the medical research company’s stock valued at $43,955,000 after buying an additional 25,100 shares in the last quarter. American International Group Inc. boosted its position in InVitae Corp by 31.3% in the first quarter. American International Group Inc. now owns 17,174 shares of the medical research company’s stock valued at $190,000 after buying an additional 4,090 shares in the last quarter. Trexquant Investment LP bought a new position in InVitae Corp during the first quarter valued at approximately $200,000. Finally, Gamco Investors INC. ET AL bought a new position in InVitae Corp during the first quarter valued at approximately $316,000.

InVitae Corp 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 Corp (NASDAQ:NVTA)

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