Oppenheimer analyst Kevin DeGeeter assigned a Buy rating to Invitae (NVTA) yesterday and set a price target of $51.00. The company’s shares closed last Monday at $45.94.
According to TipRanks.com, DeGeeter is a top 100 analyst with an average return of 56.7% and a 61.9% success rate. DeGeeter covers the Healthcare sector, focusing on stocks such as Interpace Diagnostics Group, Rocket Pharmaceuticals, and Ionis Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Invitae with a $46.81 average price target.
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Based on Invitae’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $68.73 million and GAAP net loss of $103 million. In comparison, last year the company earned revenue of $56.51 million and had a GAAP net loss of $78.71 million.
Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is neutral on the stock. Earlier this month, Robert Nussbaum, the CMO of NVTA bought 10,101 shares for a total of $100,000.
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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.
