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) 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.
ILLEGAL ACTIVITY WARNING: “InVitae Corp (NVTA) to Post Q1 2018 Earnings of ($0.63) Per Share, Leerink Swann Forecasts” was originally reported by Week Herald and is the property of of Week Herald. If you are reading this piece on another domain, it was illegally stolen and republished in violation of US and international copyright legislation. The original version of this piece can be accessed at https://weekherald.com/2018/02/15/invitae-corp-nvta-to-post-q1-2018-earnings-of-0-63-per-share-leerink-swann-forecasts.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.