Invitae Corporation (NYSE:NVTA):
Invitae Acquires CancerGene Connect, Award-Winning Risk Assessment and Family History Analysis Platform.
In the market the company is trading up by 1.43 percent from yesterday’s close.
Invitae Corporation, launched on January 13, 2010, 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. As of December 31, 2016, the Business’s products consisted of assays totaling over 1,100 genes that could be used for multiple indications, including hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders and other hereditary conditions. The Company offers panels for a range of hereditary conditions in cancer, cardiology, neuromuscular, pediatric and rare diseases. The Company focuses on genetic testing, genome network and genome management..
The stock is trading at $9.21 which is marginally lower than $9.69, the stock’s 50 day moving average and which is marginally under the 200 day moving average of $9.27. The 50 day moving average was down by -4.93% and the 200 day average went down by -0.61%.
In the last earnings report the EPS was $-2.84 and is projected to be $-2.37 for the current year with 42,314,000 shares now outstanding. Next quarter’s EPS is forecasted at $-0.57 and the next full year EPS is anticipated to be $-1.60.
A few investment analysts have issued ratings on the stock. On November 10, 2016 Leerink Swann initiated coverage on the stock with a rating of “Outperform”. Benchmark starting coverage on NVTA giving it an initial rating of “Hold”.
On February 10 JP Morgan made no change to the company rating of “Overweight” and lowered the price expectation to $12.00 from $17.00. On January 28 the company was set at “Sector Perform” by Leerink Swann which was a cut from the previous “Outperform” rating.
On August 14 analysts at William Blair starting coverage on the stock with an initial rating of “Market Perform”. August 7 investment analysts at JP Morgan maintained a company rating of “Overweight” and moved down the price target from $25.00 to $20.00.