Invitae (NVTA) Receives a Buy from Oppenheimer
In a report released yesterday, Kevin DeGeeter from Oppenheimer maintained a Buy rating on Invitae (NVTA), with a price target of $25.00. The company’s shares closed last Tuesday at $16.67.
According to TipRanks.com, DeGeeter is a 5-star analyst with an average return of 9.8% and a 44.1% success rate. DeGeeter covers the Healthcare sector, focusing on stocks such as Interpace Diagnostics Group, Catalyst Biosciences, and Molecular Templates.
Currently, the analyst consensus on Invitae is a Strong Buy with an average price target of $25.00.
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Based on Invitae’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $66.29 million and GAAP net loss of $76.91 million. In comparison, last year the company earned revenue of $45.36 million and had a GAAP net loss of $29.84 million.
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NVTA in relation to earlier this year.
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Invitae Corp. engages in the provision of genetic information into mainstream medical practice. It includes comprehensive panels for hereditary conditions in cancer, cardiology, neurology, pediatric, and rare diseases. The company was founded by Randal W. Scott and Sean E. George on January 13, 2010 and is headquartered in San Francisco, CA.