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.
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.
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