InVitae (NYSE:NVTA) Now Covered by Analysts at Ladenburg Thalmann Financial Services

Analysts at Ladenburg Thalmann Financial Services assumed coverage on shares of InVitae (NYSE:NVTA) in a note issued to investors on Friday, January 5th, MarketBeat.com reports. The firm set a “buy” rating and a $15.00 price target on the medical research company’s stock. Ladenburg Thalmann Financial Services’ price objective indicates a potential upside of 97.89% from the company’s current price.

Other research analysts also recently issued reports about the stock. BidaskClub downgraded shares of InVitae from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Zacks Investment Research upgraded shares of InVitae from a “hold” rating to a “strong-buy” rating and set a $11.00 target price on the stock in a research report on Wednesday, October 11th. Finally, Leerink Swann cut their target price on shares of InVitae from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 7th. Three analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. InVitae has an average rating of “Hold” and a consensus price target of $12.40.

Shares of InVitae (NVTA) traded down $1.33 during trading hours on Friday, reaching $7.58. 2,311,200 shares of the company’s stock were exchanged, compared to its average volume of 878,044. InVitae has a 12-month low of $3.05 and a 12-month high of $10.41. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 0.33. The company has a market cap of $401.33, a price-to-earnings ratio of -2.96 and a beta of 1.30.

InVitae (NYSE:NVTA) last issued its quarterly earnings data on Monday, November 6th. The medical research company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.02). InVitae had a negative return on equity of 115.25% and a negative net margin of 206.95%. analysts expect that InVitae will post -2.49 EPS for the current year.

Several large investors have recently made changes to their positions in NVTA. Verity Asset Management Inc. raised its position in shares of InVitae by 0.8% in the 2nd quarter. Verity Asset Management Inc. now owns 10,607 shares of the medical research company’s stock valued at $101,000 after acquiring an additional 81 shares during the period. Lakeview Capital Partners LLC acquired a new stake in shares of InVitae in the 3rd quarter valued at approximately $117,000. Gabelli Funds LLC acquired a new stake in shares of InVitae in the 3rd quarter valued at approximately $131,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of InVitae in the 3rd quarter valued at approximately $133,000. Finally, CAPROCK Group Inc. acquired a new stake in shares of InVitae in the 3rd quarter valued at approximately $139,000. Institutional investors and hedge funds own 64.67% of the company’s stock.

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About InVitae

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.

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