In a report released today, Kevin DeGeeter from Oppenheimer assigned a Buy rating to Invitae (NVTA), with a price target of $37.00. The company’s shares closed last Tuesday at $31.81, close to its 52-week high of $35.33.
According to TipRanks.com, DeGeeter is a 5-star analyst with an average return of 30.0% and a 57.3% success rate. DeGeeter covers the Healthcare sector, focusing on stocks such as Interpace Diagnostics Group, Rocket Pharmaceuticals, and Ionis Pharmaceuticals.
Invitae has an analyst consensus of Strong Buy, with a price target consensus of $34.67, representing a 4.6% upside. In a report issued on July 15, Leerink Partners also maintained a Buy rating on the stock with a $40.00 price target.
See today’s analyst top recommended stocks >>
Based on Invitae’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $64.25 million and GAAP net loss of $98.53 million. In comparison, last year the company earned revenue of $40.55 million and had a GAAP net loss of $37.68 million.
Based on the recent corporate insider activity of 52 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. Last month, Robert Nussbaum, the CMO of NVTA bought 20,000 shares for a total of $198,000.
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.
