InVitae (NVTA) PT Raised to $16.00 at JPMorgan Chase & Co.

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InVitae (NYSE:NVTA) had its price objective boosted by JPMorgan Chase & Co. to $16.00 in a research note issued to investors on Thursday, The Fly reports. The firm currently has an “overweight” rating on the medical research company’s stock. JPMorgan Chase & Co.’s target price points to a potential upside of 22.98% from the company’s previous close.

NVTA has been the topic of several other research reports. ValuEngine upgraded InVitae from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 29th. Zacks Investment Research upgraded InVitae from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Tuesday, August 14th. One analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $12.40.

Shares of NYSE NVTA opened at $13.01 on Thursday. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.42. InVitae has a 1-year low of $4.35 and a 1-year high of $18.38. The stock has a market cap of $998.43 million, a price-to-earnings ratio of -4.91 and a beta of 1.84.

InVitae (NYSE:NVTA) last issued its quarterly earnings results on Wednesday, November 7th. The medical research company reported ($0.45) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.47) by $0.02. InVitae had a negative return on equity of 115.90% and a negative net margin of 109.60%. The company had revenue of $37.37 million for the quarter, compared to the consensus estimate of $34.80 million. During the same quarter in the prior year, the business earned ($0.57) EPS. InVitae’s revenue was up 105.9% on a year-over-year basis. On average, research analysts expect that InVitae will post -2.03 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. ARK Investment Management LLC increased its holdings in shares of InVitae by 4.0% in the 3rd quarter. ARK Investment Management LLC now owns 9,170,156 shares of the medical research company’s stock valued at $153,417,000 after acquiring an additional 355,929 shares during the last quarter. BlackRock Inc. increased its holdings in shares of InVitae by 4.4% in the 3rd quarter. BlackRock Inc. now owns 5,030,486 shares of the medical research company’s stock valued at $84,161,000 after acquiring an additional 214,133 shares during the last quarter. Gilder Gagnon Howe & Co. LLC purchased a new position in shares of InVitae in the 3rd quarter valued at about $68,841,000. Northern Trust Corp increased its holdings in shares of InVitae by 57.7% in the 2nd quarter. Northern Trust Corp now owns 737,440 shares of the medical research company’s stock valued at $5,420,000 after acquiring an additional 269,798 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of InVitae by 694.6% in the 2nd quarter. Millennium Management LLC now owns 536,056 shares of the medical research company’s stock valued at $3,940,000 after acquiring an additional 468,596 shares during the last quarter. Institutional investors own 73.78% of the company’s stock.

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. The company's tests include multiple genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; proactive health and wellness screening; and preimplantation embryo testing and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.

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