Analysts Anticipate Innoviva, Inc. (NASDAQ:INVA) Will Post Earnings of -$0.01 Per Share


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Brokerages forecast that Innoviva, Inc. (NASDAQ:INVA) will announce ($0.01) earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Innoviva’s earnings. Innoviva reported earnings per share of $0.59 in the same quarter last year, which would suggest a negative year over year growth rate of 101.7%. The company is scheduled to announce its next earnings results on Wednesday, May 5th.

According to Zacks, analysts expect that Innoviva will report full year earnings of $1.69 per share for the current year. For the next year, analysts forecast that the company will report earnings of $1.49 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Innoviva.

Innoviva (NASDAQ:INVA) last announced its earnings results on Wednesday, February 3rd. The biotechnology company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.40 by $0.08. The firm had revenue of $90.48 million for the quarter. Innoviva had a net margin of 67.16% and a return on equity of 53.99%.

INVA has been the topic of several recent analyst reports. TheStreet downgraded shares of Innoviva from a “b-” rating to a “c+” rating in a report on Thursday, February 25th. Zacks Investment Research downgraded shares of Innoviva from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 13th.

INVA traded down $0.19 during trading on Friday, hitting $11.70. The stock had a trading volume of 738,833 shares, compared to its average volume of 557,753. The firm has a market cap of $1.19 billion, a PE ratio of 5.97 and a beta of 0.64. Innoviva has a 12 month low of $9.21 and a 12 month high of $15.62. The company has a current ratio of 146.75, a quick ratio of 146.75 and a debt-to-equity ratio of 0.72. The company has a 50 day simple moving average of $11.82 and a 200-day simple moving average of $11.44.

In related news, Director Innoviva, Inc. acquired 1,867,912 shares of the company’s stock in a transaction dated Tuesday, January 26th. The shares were bought at an average price of $3.25 per share, for a total transaction of $6,070,714.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.

Several large investors have recently bought and sold shares of INVA. First Trust Advisors LP increased its holdings in shares of Innoviva by 73.3% during the 1st quarter. First Trust Advisors LP now owns 219,037 shares of the biotechnology company’s stock worth $3,073,000 after purchasing an additional 92,637 shares during the period. Wells Fargo & Company MN increased its stake in Innoviva by 32.9% in the third quarter. Wells Fargo & Company MN now owns 245,412 shares of the biotechnology company’s stock valued at $2,564,000 after acquiring an additional 60,751 shares during the period. California Public Employees Retirement System increased its stake in Innoviva by 4.1% in the third quarter. California Public Employees Retirement System now owns 150,495 shares of the biotechnology company’s stock valued at $1,573,000 after acquiring an additional 5,860 shares during the period. Sei Investments Co. increased its stake in Innoviva by 82.9% in the third quarter. Sei Investments Co. now owns 88,100 shares of the biotechnology company’s stock valued at $920,000 after acquiring an additional 39,926 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Innoviva by 1.7% in the third quarter. Victory Capital Management Inc. now owns 108,262 shares of the biotechnology company’s stock valued at $1,131,000 after acquiring an additional 1,854 shares during the period. Institutional investors own 71.48% 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 LABA, vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate; 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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