Invitae initiated with a Buy at Chardan. Chardan analyst Steven Wardell initiated Invitae with a Buy and $29 price target. Wardell said Invitae is the cost and quality leader in the genetic testing market with a centralized testing and data strategy that positions the company to compete in this large, and attractive market. The analyst expects strong topline growth over the next three years and likes management’s ability to execute and their confidence on where the sector is going and their place in it. He believes shares are mispriced versus peers given it is a growth leader among high-growth digital health companies.
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