In a report released today, Puneet Souda from Leerink Partners maintained a Buy rating on Invitae (NVTA), with a price target of $48.00. The company’s shares closed last Friday at $45.09.
According to TipRanks.com, Souda is a 5-star analyst with an average return of 30.6% and a 77.6% success rate. Souda covers the Healthcare sector, focusing on stocks such as HTG Molecular Diagnostics, Castle Biosciences, and Twist Bioscience.
Currently, the analyst consensus on Invitae is a Moderate Buy with an average price target of $45.81, implying a 6.5% upside from current levels. In a report released today, Oppenheimer also assigned a Buy rating to the stock with a $48.00 price target.
See today’s analyst top recommended stocks >>
Based on Invitae’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $46.19 million and GAAP net loss of $166 million. In comparison, last year the company earned revenue of $53.48 million and had a GAAP net loss of $48.68 million.
Based on the recent corporate insider activity of 66 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
