Zacks: Brokerages Anticipate InVitae Corp (NYSE:NVTA) Will Post Quarterly Sales of $68.78 Million

Wall Street brokerages expect InVitae Corp (NYSE:NVTA) to announce $68.78 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for InVitae’s earnings, with estimates ranging from $65.60 million to $70.78 million. InVitae posted sales of $45.36 million in the same quarter last year, which suggests a positive year-over-year growth rate of 51.6%. The company is expected to issue its next quarterly earnings report after the market closes on Wednesday, February 19th.

According to Zacks, analysts expect that InVitae will report full-year sales of $216.20 million for the current financial year. For the next year, analysts expect that the company will report sales of $319.57 million, with estimates ranging from $307.27 million to $333.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for InVitae.

A number of research analysts recently issued reports on the stock. ValuEngine downgraded shares of InVitae from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Zacks Investment Research cut shares of InVitae from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $27.83.

InVitae stock traded up $0.79 during trading on Friday, reaching $27.04. The stock had a trading volume of 3,429,900 shares, compared to its average volume of 3,046,787. InVitae has a 52-week low of $14.35 and a 52-week high of $28.75. The business has a 50 day moving average price of $19.04 and a 200 day moving average price of $19.93. The company has a quick ratio of 7.38, a current ratio of 7.38 and a debt-to-equity ratio of 0.77. The stock has a market cap of $2.53 billion, a PE ratio of -12.13 and a beta of 2.43.

Hedge funds have recently added to or reduced their stakes in the business. ARK Investment Management LLC raised its holdings in InVitae by 34.0% during the fourth quarter. ARK Investment Management LLC now owns 10,509,132 shares of the medical research company’s stock worth $169,512,000 after purchasing an additional 2,667,936 shares in the last quarter. Metropolitan Life Insurance Co NY raised its holdings in InVitae by 27.7% during the third quarter. Metropolitan Life Insurance Co NY now owns 28,437 shares of the medical research company’s stock worth $548,000 after purchasing an additional 6,164 shares in the last quarter. Aigen Investment Management LP acquired a new stake in InVitae during the fourth quarter worth approximately $1,467,000. Exchange Traded Concepts LLC acquired a new stake in InVitae during the fourth quarter worth approximately $66,000. Finally, K.J. Harrison & Partners Inc acquired a new stake in InVitae during the fourth quarter worth approximately $242,000. 93.56% of the stock is currently owned by institutional investors.

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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Earnings History and Estimates for InVitae (NYSE:NVTA)

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