Zacks: Brokerages Anticipate Innoviva (INVA) Will Post Earnings of $0.62 Per Share
Equities research analysts predict that Innoviva (NASDAQ:INVA) will announce $0.62 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Innoviva’s earnings. Innoviva reported earnings of $0.30 per share in the same quarter last year, which suggests a positive year over year growth rate of 106.7%. The business is expected to report its next earnings results on Wednesday, July 25th.
On average, analysts expect that Innoviva will report full-year earnings of $2.40 per share for the current year. For the next fiscal year, analysts anticipate that the business will post earnings of $3.24 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Innoviva.
Innoviva (NASDAQ:INVA) last posted its earnings results on Thursday, April 26th. The biotechnology company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.23). Innoviva had a net margin of 64.11% and a negative return on equity of 63.57%. The firm had revenue of $52.40 million during the quarter, compared to analyst estimates of $71.84 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The business’s revenue for the quarter was up 29.4% on a year-over-year basis.
Shares of Innoviva traded up $0.09, hitting $14.73, during trading hours on Friday, according to Marketbeat. The stock had a trading volume of 19,103 shares, compared to its average volume of 1,008,499. The company has a debt-to-equity ratio of -2.28, a current ratio of 27.89 and a quick ratio of 27.89. Innoviva has a fifty-two week low of $14.48 and a fifty-two week high of $14.77. The stock has a market cap of $1.50 billion, a P/E ratio of 12.45 and a beta of 2.12.
In other Innoviva news, insider Eric Desparbes sold 5,378 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $16.52, for a total transaction of $88,844.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP George B. Abercrombie sold 8,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $16.51, for a total transaction of $132,080.00. The disclosure for this sale can be found here. Corporate insiders own 1.44% of the company’s stock.
A number of large investors have recently bought and sold shares of INVA. SG Americas Securities LLC acquired a new position in Innoviva during the first quarter worth $113,000. Bayesian Capital Management LP acquired a new position in Innoviva during the first quarter worth $197,000. Meadow Creek Investment Management LLC raised its position in Innoviva by 30.0% during the fourth quarter. Meadow Creek Investment Management LLC now owns 14,084 shares of the biotechnology company’s stock worth $200,000 after acquiring an additional 3,248 shares during the period. Xact Kapitalforvaltning AB acquired a new position in Innoviva during the fourth quarter worth $201,000. Finally, Highbridge Capital Management LLC acquired a new position in Innoviva during the first quarter worth $236,000. Institutional investors own 76.00% of the company’s stock.
Innoviva Company Profile
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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