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NEW YORK – JP Morgan on Wednesday gave Invitae's stock a Neutral rating from a previous Not Rated designation based on the company's recent financial progress and service expansions through recent mergers and acquisitions.

Analyst Tycho Peterson also increased Invitae's December 2021 stock price target to $45 from a prior December 2020 price target of $25.

Following Invitae's announcement in June that it would acquire ArcherDx, JP Morgan suspended its rating for Invitae and moved it to Not Rated from Overweight due to its involvement in the acquisition.

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