Wall Street analysts expect Innoviva Inc (NASDAQ:INVA) to report $73.83 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Innoviva’s earnings. The highest sales estimate is $81.99 million and the lowest is $69.69 million. Innoviva reported sales of $40.49 million in the same quarter last year, which suggests a positive year over year growth rate of 82.3%. The firm is scheduled to report its next earnings report on Thursday, April 26th.
According to Zacks, analysts expect that Innoviva will report full-year sales of $73.83 million for the current fiscal year, with estimates ranging from $232.90 million to $317.86 million. For the next financial year, analysts anticipate that the business will report sales of $322.15 million per share, with estimates ranging from $231.45 million to $408.37 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Innoviva.
Innoviva (NASDAQ:INVA) last posted its earnings results on Thursday, February 8th. The biotechnology company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The company had revenue of $69.52 million during the quarter, compared to analyst estimates of $67.41 million. Innoviva had a negative return on equity of 48.93% and a net margin of 61.76%. The company’s revenue for the quarter was up 59.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.22 EPS.
Several equities analysts have recently issued reports on the company. Robert W. Baird restated a “hold” rating and set a $13.00 target price on shares of Innoviva in a research report on Tuesday, October 24th. Zacks Investment Research upgraded Innoviva from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. TheStreet upgraded Innoviva from a “c+” rating to a “b” rating in a research report on Friday, February 9th. BidaskClub upgraded Innoviva from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Finally, Deutsche Bank assumed coverage on Innoviva in a research report on Monday, November 20th. They issued a “hold” rating and a $13.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Innoviva presently has an average rating of “Hold” and a consensus target price of $13.83.
Innoviva (NASDAQ INVA) traded down $0.30 during trading on Friday, hitting $16.44. The stock had a trading volume of 881,281 shares, compared to its average volume of 1,126,305. The firm has a market cap of $1,808.17, a price-to-earnings ratio of 15.08 and a beta of 2.52. Innoviva has a 52 week low of $11.02 and a 52 week high of $17.21. The company has a debt-to-equity ratio of -2.47, a current ratio of 20.49 and a quick ratio of 6.71.
In related news, insider Michael W. Aguiar sold 12,022 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $13.13, for a total value of $157,848.86. Following the completion of the transaction, the insider now directly owns 980,907 shares in the company, valued at approximately $12,879,308.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Sarissa Capital Management LP grew its position in shares of Innoviva by 3.2% in the 3rd quarter. Sarissa Capital Management LP now owns 3,600,705 shares of the biotechnology company’s stock valued at $50,841,000 after purchasing an additional 110,000 shares during the period. Engineers Gate Manager LP bought a new stake in Innoviva in the 3rd quarter valued at approximately $1,492,000. Pictet Asset Management Ltd. bought a new stake in Innoviva in the 3rd quarter valued at approximately $2,629,000. Crossmark Global Holdings Inc. bought a new stake in Innoviva in the 3rd quarter valued at approximately $533,000. Finally, Chicago Equity Partners LLC lifted its stake in Innoviva by 6.8% in the 4th quarter. Chicago Equity Partners LLC now owns 563,610 shares of the biotechnology company’s stock valued at $7,998,000 after acquiring an additional 35,950 shares in the last quarter. Institutional investors and hedge funds own 72.39% of the company’s stock.
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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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