InVitae (NVTA) Issues Quarterly Earnings Results

InVitae (NYSE:NVTA) issued its quarterly earnings data on Monday. The medical research company reported ($0.78) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by ($0.17), Briefing.com reports. InVitae had a negative return on equity of 134.68% and a negative net margin of 180.85%. The company had revenue of $25.40 million for the quarter, compared to the consensus estimate of $24.18 million. During the same period in the previous year, the firm earned ($0.69) earnings per share. The company’s revenue was up 175.0% compared to the same quarter last year.

InVitae (NYSE:NVTA) opened at $6.09 on Wednesday. InVitae has a 52 week low of $3.80 and a 52 week high of $10.41. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.61 and a current ratio of 2.61.

Several brokerages have weighed in on NVTA. JPMorgan Chase & Co. reduced their price objective on InVitae from $13.00 to $9.00 and set an “overweight” rating on the stock in a research note on Tuesday. Benchmark reduced their price objective on InVitae from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday. Zacks Investment Research cut InVitae from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Leerink Swann cut their target price on InVitae from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 7th. Finally, BidaskClub cut InVitae from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Three analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $11.00.

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InVitae Company Profile

Invitae Corporation utilizes an integrated portfolio of laboratory processes, software tools and informatics capabilities to process deoxyribonucleic acid (DNA)-containing samples, analyze information about patient-specific genetic variation and generate test reports for clinicians and their patients.

Earnings History for InVitae (NYSE:NVTA)

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