Wall Street brokerages expect Innoviva Inc (NASDAQ:INVA) to report earnings of $0.45 per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Innoviva’s earnings, with the lowest EPS estimate coming in at $0.37 and the highest estimate coming in at $0.53. Innoviva posted earnings of $0.21 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 114.3%. The firm is scheduled to announce its next quarterly earnings results on Thursday, February 8th.
On average, analysts expect that Innoviva will report full-year earnings of $1.08 per share for the current financial year, with EPS estimates ranging from $1.00 to $1.16. For the next financial year, analysts forecast that the company will report earnings of $2.01 per share, with EPS estimates ranging from $1.42 to $2.44. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Innoviva.
Innoviva (NASDAQ:INVA) last issued its earnings results on Wednesday, October 25th. The biotechnology company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.13). Innoviva had a negative return on equity of 33.55% and a net margin of 52.91%. The business had revenue of $48.64 million during the quarter, compared to the consensus estimate of $57.18 million. During the same period in the prior year, the business earned $0.13 EPS. The business’s revenue was up 46.0% on a year-over-year basis.
A number of brokerages have issued reports on INVA. BidaskClub raised shares of Innoviva from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. ValuEngine raised shares of Innoviva from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Cowen set a $16.00 target price on shares of Innoviva and gave the stock a “buy” rating in a report on Monday, October 23rd. Morgan Stanley reissued an “underweight” rating and issued a $8.00 target price (up previously from $7.00) on shares of Innoviva in a report on Friday, October 6th. Finally, Zacks Investment Research cut shares of Innoviva from a “buy” rating to a “hold” rating in a report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $13.50.
In other news, CFO Eric Desparbes sold 15,285 shares of Innoviva stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $13.28, for a total transaction of $202,984.80. Following the sale, the chief financial officer now owns 337,027 shares of the company’s stock, valued at $4,475,718.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael W. Aguiar sold 12,022 shares of Innoviva stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $13.13, for a total value of $157,848.86. Following the sale, the insider now directly owns 980,907 shares in the company, valued at approximately $12,879,308.91. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,522 shares of company stock worth $429,985. Corporate insiders own 1.60% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sarissa Capital Management LP raised its holdings in shares of Innoviva by 3.2% during the third quarter. Sarissa Capital Management LP now owns 3,600,705 shares of the biotechnology company’s stock valued at $50,841,000 after buying an additional 110,000 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Innoviva during the third quarter valued at approximately $1,492,000. Pictet Asset Management Ltd. bought a new stake in shares of Innoviva during the third quarter valued at approximately $2,629,000. Crossmark Global Holdings Inc. bought a new stake in shares of Innoviva during the third quarter valued at approximately $533,000. Finally, Denali Advisors LLC bought a new stake in shares of Innoviva during the third quarter valued at approximately $570,000. 74.41% of the stock is currently owned by institutional investors.
Innoviva (NASDAQ INVA) opened at $14.53 on Friday. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of -2.59. Innoviva has a twelve month low of $10.30 and a twelve month high of $14.87. The stock has a market cap of $1,570.00, a PE ratio of 18.39 and a beta of 2.52.
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Innoviva Company Profile
Innoviva, Inc, formerly Theravance, Inc, is engaged in the development, commercialization and financial management of bio-pharmaceuticals. It focuses on the respiratory assets partnered with Glaxo Group Limited (GSK), including RELVAR/BREO ELLIPTA (fluticasone furoate (FF)/vilanterol (VI)) and ANORO ELLIPTA (umeclidinium bromide/vilanterol (UMEC/VI)).
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