Zacks: Brokerages Expect Innoviva Inc (NASDAQ:INVA) Will Post Earnings of $0.43 Per Share

Wall Street brokerages expect Innoviva Inc (NASDAQ:INVA) to announce earnings per share (EPS) of $0.43 for the current quarter, Zacks reports. Zero analysts have issued estimates for Innoviva’s earnings. Innoviva reported earnings of $0.31 per share during the same quarter last year, which indicates a positive year over year growth rate of 38.7%. The firm is scheduled to report its next earnings report on Wednesday, May 6th.

According to Zacks, analysts expect that Innoviva will report full year earnings of $1.56 per share for the current year. For the next financial year, analysts forecast that the company will report earnings of $0.87 per share. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Innoviva.

Innoviva (NASDAQ:INVA) last posted its earnings results on Wednesday, February 5th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.08). The firm had revenue of $75.97 million during the quarter. Innoviva had a return on equity of 58.66% and a net margin of 60.35%.

A number of equities research analysts have issued reports on INVA shares. Zacks Investment Research raised shares of Innoviva from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Thursday, February 20th. BidaskClub raised shares of Innoviva from a “hold” rating to a “buy” rating in a research note on Friday. Finally, TheStreet raised shares of Innoviva from a “c+” rating to a “b-” rating in a research report on Thursday, December 12th.

Shares of Innoviva stock opened at $12.01 on Tuesday. The firm has a market cap of $1.13 billion, a PE ratio of 8.40 and a beta of 0.97. Innoviva has a 12-month low of $7.58 and a 12-month high of $15.35. The company has a quick ratio of 80.29, a current ratio of 80.29 and a debt-to-equity ratio of 1.10. The company’s fifty day simple moving average is $12.92 and its two-hundred day simple moving average is $12.63.

Several large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its holdings in shares of Innoviva by 4.1% in the 4th quarter. Renaissance Technologies LLC now owns 7,893,697 shares of the biotechnology company’s stock valued at $111,775,000 after buying an additional 312,010 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of Innoviva by 33.5% in the 4th quarter. First Eagle Investment Management LLC now owns 1,665,400 shares of the biotechnology company’s stock valued at $23,582,000 after buying an additional 417,600 shares in the last quarter. Norges Bank bought a new stake in shares of Innoviva in the 4th quarter valued at about $17,300,000. Geode Capital Management LLC boosted its holdings in shares of Innoviva by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 943,294 shares of the biotechnology company’s stock valued at $13,357,000 after buying an additional 28,488 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in shares of Innoviva by 4.8% in the 4th quarter. Schroder Investment Management Group now owns 595,590 shares of the biotechnology company’s stock valued at $8,433,000 after purchasing an additional 27,212 shares during the last quarter. Institutional investors and hedge funds own 73.95% of the company’s stock.

Innoviva Company Profile

Innoviva, Inc engages in the development and commercialization of pharmaceuticals. The company has long-acting beta2 agonist (LABA) collaboration agreement with Glaxo Group Limited to develop and commercialize once-daily products for the treatment of chronic obstructive pulmonary disease and asthma. Its products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a long-acting beta2 agonist (LABA), vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate (FF); ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA), umeclidinium bromide (UMEC), with a LABA, and VI; and TRELEGY ELLIPTA, a once-daily combination medicine consisting of an ICS, LAMA and LABA.

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