Invitae (NYSE:NVTA) Upgraded to Outperform at Oppenheimer

Oppenheimer upgraded shares of Invitae (NYSE:NVTA) from a market perform rating to an outperform rating in a report published on Monday, PriceTargets.com reports. They currently have $48.00 target price on the medical research company’s stock. The analysts noted that the move was a valuation call.

A number of other research analysts also recently commented on the company. Morgan Stanley boosted their target price on Invitae from $41.00 to $45.00 and gave the company an equal weight rating in a research note on Thursday, February 25th. Zacks Investment Research downgraded Invitae from a hold rating to a sell rating in a research note on Tuesday, February 23rd. SVB Leerink boosted their target price on Invitae from $64.00 to $65.00 and gave the company an outperform rating in a research note on Thursday, February 25th. Finally, LADENBURG THALM/SH SH upgraded Invitae from a neutral rating to a buy rating and boosted their target price for the company from $46.50 to $58.00 in a research note on Thursday, February 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $45.88.

NYSE:NVTA opened at $37.36 on Monday. The firm has a market capitalization of $7.35 billion, a price-to-earnings ratio of -9.60 and a beta of 2.11. Invitae has a 1-year low of $12.42 and a 1-year high of $61.59. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.68. The business’s fifty day moving average price is $40.49 and its 200 day moving average price is $46.28.

Invitae (NYSE:NVTA) last posted its quarterly earnings results on Tuesday, February 16th. The medical research company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.08). The business had revenue of $100.43 million for the quarter, compared to analyst estimates of $97.87 million. Invitae had a negative net margin of 183.50% and a negative return on equity of 81.19%. Equities analysts forecast that Invitae will post -2.69 earnings per share for the current year.

In related news, General Counsel Thomas Brida sold 16,051 shares of the stock in a transaction that occurred on Friday, March 12th. The stock was sold at an average price of $42.90, for a total transaction of $688,587.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Geoffrey Crouse sold 10,000 shares of the stock in a transaction that occurred on Monday, February 22nd. The shares were sold at an average price of $48.62, for a total value of $486,200.00. Following the sale, the director now owns 21,459 shares of the company’s stock, valued at approximately $1,043,336.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,441 shares of company stock valued at $5,617,770. 2.90% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in NVTA. Price T Rowe Associates Inc. MD raised its holdings in Invitae by 89.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,112,725 shares of the medical research company’s stock valued at $88,333,000 after acquiring an additional 997,639 shares in the last quarter. Northern Trust Corp raised its holdings in Invitae by 1.9% in the 4th quarter. Northern Trust Corp now owns 1,523,564 shares of the medical research company’s stock valued at $63,700,000 after acquiring an additional 28,696 shares in the last quarter. Norges Bank acquired a new position in Invitae in the 4th quarter valued at approximately $60,491,000. Charles Schwab Investment Management Inc. raised its holdings in Invitae by 16.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 966,649 shares of the medical research company’s stock valued at $40,416,000 after acquiring an additional 138,869 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its holdings in Invitae by 2.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 898,546 shares of the medical research company’s stock valued at $37,568,000 after acquiring an additional 23,166 shares in the last quarter. Hedge funds and other institutional investors own 78.60% of the company’s stock.

About Invitae

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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Analyst Recommendations for Invitae (NYSE:NVTA)

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