Analysts Anticipate InVitae Corp (NYSE:NVTA) to Post -$0.67 Earnings Per Share

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Brokerages expect that InVitae Corp (NYSE:NVTA) will report ($0.67) earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for InVitae’s earnings. The highest EPS estimate is ($0.47) and the lowest is ($1.09). InVitae reported earnings per share of ($0.40) during the same quarter last year, which indicates a negative year over year growth rate of 67.5%. The business is scheduled to report its next earnings report on Tuesday, February 18th.

On average, analysts expect that InVitae will report full year earnings of ($2.44) per share for the current year, with EPS estimates ranging from ($2.98) to ($1.90). For the next fiscal year, analysts anticipate that the business will report earnings of ($2.21) per share, with EPS estimates ranging from ($3.10) to ($1.47). Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow InVitae.

InVitae (NYSE:NVTA) last announced its quarterly earnings data on Wednesday, November 6th. The medical research company reported ($0.69) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.52) by ($0.17). InVitae had a negative net margin of 99.49% and a negative return on equity of 58.90%. The firm had revenue of $56.51 million during the quarter, compared to analysts’ expectations of $55.00 million.

A number of brokerages have commented on NVTA. ValuEngine raised shares of InVitae from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Zacks Investment Research cut shares of InVitae from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Benchmark restated a “buy” rating and set a $28.00 price target (up previously from $26.00) on shares of InVitae in a report on Wednesday, August 7th. Chardan Capital set a $32.00 price target on shares of InVitae and gave the company a “buy” rating in a research report on Sunday, August 25th. Finally, Leerink Swann set a $31.00 price target on shares of InVitae and gave the company a “buy” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $27.83.

InVitae stock opened at $19.06 on Friday. InVitae has a 12-month low of $9.04 and a 12-month high of $28.75. The stock has a market cap of $1.84 billion, a P/E ratio of -9.82 and a beta of 2.53. The company has a 50-day moving average price of $17.94 and a 200 day moving average price of $20.86. The company has a current ratio of 7.38, a quick ratio of 7.38 and a debt-to-equity ratio of 0.77.

In other InVitae news, insider Katherine Stueland sold 3,788 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $17.46, for a total transaction of $66,138.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. ARK Investment Management LLC increased its position in shares of InVitae by 7.9% in the 2nd quarter. ARK Investment Management LLC now owns 9,423,157 shares of the medical research company’s stock valued at $221,444,000 after purchasing an additional 693,634 shares during the last quarter. Nikko Asset Management Americas Inc. raised its holdings in shares of InVitae by 36.9% in the 3rd quarter. Nikko Asset Management Americas Inc. now owns 7,299,703 shares of the medical research company’s stock valued at $140,665,000 after purchasing an additional 1,966,915 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of InVitae by 35.8% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,223,586 shares of the medical research company’s stock valued at $139,199,000 after purchasing an additional 1,905,746 shares in the last quarter. BlackRock Inc. lifted its position in shares of InVitae by 19.3% during the 2nd quarter. BlackRock Inc. now owns 6,397,193 shares of the medical research company’s stock worth $150,335,000 after purchasing an additional 1,037,130 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of InVitae by 7.0% during the 2nd quarter. Vanguard Group Inc. now owns 4,535,678 shares of the medical research company’s stock worth $106,589,000 after purchasing an additional 297,356 shares during the last quarter. 94.47% of the stock is owned by institutional investors and hedge funds.

InVitae Company Profile

Invitae Corporation, a genetic information 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. Its tests include genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; and screening and testing services in reproductive health, including preimplantation and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.

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