Brokerages Anticipate InVitae Corp (NVTA) Will Post Quarterly Sales of $13.02 Million

Wall Street analysts predict that InVitae Corp (NASDAQ:NVTA) will post sales of $13.02 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for InVitae Corp’s earnings, with the lowest sales estimate coming in at $11.57 million and the highest estimate coming in at $13.85 million. InVitae Corp posted sales of $5.58 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 133.3%. The firm is scheduled to issue its next earnings results on Monday, August 14th.

On average, analysts expect that InVitae Corp will report full year sales of $13.02 million for the current year, with estimates ranging from $56.47 million to $61.12 million. For the next year, analysts forecast that the company will report sales of $123.60 million per share, with estimates ranging from $120.37 million to $127.77 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for InVitae Corp.

InVitae Corp (NASDAQ:NVTA) last released its quarterly earnings results on Tuesday, May 9th. The medical research company reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.04. The company had revenue of $10.34 million during the quarter, compared to analysts’ expectations of $10.90 million. The company’s quarterly revenue was up 161.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.80) earnings per share.

NVTA has been the topic of a number of research analyst reports. ValuEngine downgraded InVitae Corp from a “sell” rating to a “strong sell” rating in a report on Tuesday, May 23rd. Benchmark Co. reaffirmed a “buy” rating and set a $16.00 price target (up from $11.00) on shares of InVitae Corp in a report on Monday, April 3rd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. InVitae Corp presently has a consensus rating of “Hold” and an average target price of $12.69.

ILLEGAL ACTIVITY WARNING: “Brokerages Anticipate InVitae Corp (NVTA) Will Post Quarterly Sales of $13.02 Million” was first posted by sleekmoney and is the sole property of of sleekmoney. If you are viewing this piece on another website, it was illegally copied and reposted in violation of US and international copyright & trademark legislation. The correct version of this piece can be accessed at https://sleekmoney.com/brokerages-anticipate-invitae-corp-nvta-will-post-quarterly-sales-of-13-02-million/1918239.html.

A number of hedge funds have recently bought and sold shares of NVTA. Nationwide Fund Advisors boosted its stake in InVitae Corp by 21.1% in the first quarter. Nationwide Fund Advisors now owns 17,121 shares of the medical research company’s stock worth $189,000 after buying an additional 2,987 shares during the period. American International Group Inc. boosted its stake in InVitae Corp by 31.3% in the first quarter. American International Group Inc. now owns 17,174 shares of the medical research company’s stock worth $190,000 after buying an additional 4,090 shares during the period. Credit Suisse AG boosted its stake in InVitae Corp by 22.9% in the first quarter. Credit Suisse AG now owns 25,178 shares of the medical research company’s stock worth $279,000 after buying an additional 4,694 shares during the period. Teachers Advisors LLC boosted its stake in InVitae Corp by 18.3% in the fourth quarter. Teachers Advisors LLC now owns 42,372 shares of the medical research company’s stock worth $336,000 after buying an additional 6,547 shares during the period. Finally, Donald L. Hagan LLC purchased a new stake in InVitae Corp during the first quarter worth approximately $111,000.

InVitae Corp (NASDAQ NVTA) traded down 1.48% during midday trading on Wednesday, reaching $9.35. The company had a trading volume of 293,524 shares. InVitae Corp has a 12-month low of $5.76 and a 12-month high of $11.88. The company has a 50-day moving average of $9.49 and a 200-day moving average of $9.33. The stock’s market capitalization is $395.64 million.

InVitae Corp 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.

Get a free copy of the Zacks research report on InVitae Corp (NVTA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/brokerages-anticipate-invitae-corp-nvta-will-post-quarterly-sales-of-13-02-million/1918239.html

Receive News & Ratings for InVitae Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InVitae Corp and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *