Innoviva (INVA) Issues Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Innoviva (NASDAQ:INVA) posted its quarterly earnings results on Wednesday. The biotechnology company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06), reports. The company had revenue of $61.70 million during the quarter, compared to analyst estimates of $64.00 million. Innoviva had a net margin of 70.01% and a negative return on equity of 83.69%. The company’s revenue was up 27.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.21 earnings per share.

Shares of NASDAQ INVA opened at $15.24 on Friday. Innoviva has a twelve month low of $12.06 and a twelve month high of $17.99. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 13.03 and a beta of 2.21.

In other Innoviva news, VP Theodore J. Jr. Witek sold 8,504 shares of the company’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $14.12, for a total value of $120,076.48. Following the completion of the sale, the vice president now directly owns 256,271 shares of the company’s stock, valued at approximately $3,618,546.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Several equities analysts have recently commented on the stock. BidaskClub lowered shares of Innoviva from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. ValuEngine upgraded shares of Innoviva from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $15.00.

About Innoviva

Innoviva, Inc engages in the development and commercialization of bio-pharmaceuticals. Its portfolio of respiratory products include RELVAR/BREO ELLIPTA, (fluticasone furoate/ vilanterol, FF/VI); ANORO ELLIPTA (umeclidinium bromide/ vilanterol, UMEC/VI); and TRELEGY ELLIPTA (the combination FF/UMEC/VI).

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Earnings History for Innoviva (NASDAQ:INVA)

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