In a report released today, Tejas Savant from Morgan Stanley maintained a Hold rating on Invitae (NVTA), with a price target of $41.00. The company’s shares closed last Friday at $45.15.
According to TipRanks.com, Savant is a 3-star analyst with an average return of 8.1% and a 88.9% success rate. Savant covers the Healthcare sector, focusing on stocks such as Pacific Biosciences, Guardant Health, and NanoString Tech.
Currently, the analyst consensus on Invitae is a Moderate Buy with an average price target of $46.31, representing a 7.7% upside. In a report released today, Ladenburg Thalmann & Co. also downgraded the stock to Hold with a $45.85 price target.
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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.
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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.
