InVitae, Sarepta Stocks Get a Lift from Expanded DMD Partnership

Analysts are quite bullish on InVitae ahead of earnings

Managing Editor
May 7, 2018 at 10:22 AM
facebook X logo linkedin

Shares of InVitae Corp (NYSE:NVTA) and Sarepta Therapeutics Inc (NASDAQ:SRPT) are pointed higher this morning, after the two companies expanded their partnership in clinical research for Duchenne Muscular Dystrophy (DMD) treatments. The collaboration takes advantage of NVTA's genetic testing to find patients who may benefit from SRPT's clinical trials.

InVitae stock is up 0.9% to trade at $5.58, and on track to close above its 30-day moving average for the first time since a late-March sell-off sent NVTA to a record low of $4.35. Overall, the equity has shed 39% in 2018.

Ahead of the company's earnings report after the close on Wednesday, analysts remain committed to the healthcare stock. Of the six brokerages covering NVTA, five rate it a "strong buy," with zero "sells." Furthermore, the security's average 12-month price target of $11 is more than double its current perch. 

At last check, Sarepta stock is up 3% to trade at $92.50, and earlier hit a fresh 17-year high of $92.96. Adding to the bullish buzz, H.C. Wainwright issued a price-target hike to $96 from $90, while reiterating its "buy" rating.

This just continues Friday's momentum, when SRPT stock shot 14% following an upbeat earnings report -- breaking through recent congestion in the $83-$84 region. The shares have nearly tripled in the past year and have tacked on 65% in 2018.

A short squeeze could provide even more tailwinds for the drug stock. The 10.06 million shares sold short represents 17.6% of SRPT's total available float. At the security's average daily trading volume, it would take more than eight days to repurchase these bearish bets.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI