Wall Street brokerages expect Innoviva, Inc. (NASDAQ:INVA) to report $63.27 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Innoviva’s earnings. The highest sales estimate is $65.62 million and the lowest is $60.91 million. Innoviva reported sales of $43.61 million in the same quarter last year, which would suggest a positive year over year growth rate of 45.1%. The business is scheduled to announce its next earnings report on Thursday, February 8th.
On average, analysts expect that Innoviva will report full-year sales of $63.27 million for the current year, with estimates ranging from $208.61 million to $231.78 million. For the next fiscal year, analysts anticipate that the firm will post sales of $289.85 million per share, with estimates ranging from $230.43 million to $336.77 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Innoviva.
Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Wednesday, October 25th. The biotechnology company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.13). Innoviva had a net margin of 52.91% and a negative return on equity of 33.55%. The firm had revenue of $48.64 million during the quarter, compared to analysts’ expectations of $57.18 million. During the same quarter in the previous year, the company posted $0.13 EPS. Innoviva’s revenue for the quarter was up 46.0% on a year-over-year basis.
A number of equities research analysts have issued reports on INVA shares. ValuEngine raised shares of Innoviva from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research cut shares of Innoviva from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 16th. Cowen and Company set a $16.00 target price on shares of Innoviva and gave the company a “buy” rating in a report on Friday, July 28th. Robert W. Baird reissued a “neutral” rating and set a $13.00 target price (up previously from $11.00) on shares of Innoviva in a report on Thursday, July 27th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $15.00 target price on shares of Innoviva in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Innoviva currently has a consensus rating of “Hold” and a consensus target price of $13.50.
WARNING: This story was originally posted by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this story on another site, it was stolen and republished in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://sportsperspectives.com/2017/11/23/innoviva-inc-inva-expected-to-post-quarterly-sales-of-63-27-million.html.
Shares of Innoviva (NASDAQ INVA) traded up $0.01 during mid-day trading on Thursday, reaching $13.42. 1,065,700 shares of the company’s stock were exchanged, compared to its average volume of 1,052,360. The company has a debt-to-equity ratio of -2.59, a current ratio of 6.71 and a quick ratio of 6.71. Innoviva has a 1-year low of $10.07 and a 1-year high of $14.87. The company has a market cap of $1,448.48, a PE ratio of 15.41 and a beta of 2.51.
In other news, CFO Eric Desparbes sold 15,285 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $13.28, for a total value of $202,984.80. Following the transaction, the chief financial officer now owns 337,027 shares of the company’s stock, valued at $4,475,718.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP George B. Abercrombie sold 5,215 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $13.26, for a total transaction of $69,150.90. Following the completion of the transaction, the vice president now directly owns 263,866 shares in the company, valued at approximately $3,498,863.16. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in shares of Innoviva by 17.6% in the second quarter. Victory Capital Management Inc. now owns 9,967 shares of the biotechnology company’s stock worth $128,000 after purchasing an additional 1,494 shares during the period. Sei Investments Co. increased its holdings in shares of Innoviva by 33,810.3% in the third quarter. Sei Investments Co. now owns 9,834 shares of the biotechnology company’s stock worth $138,000 after purchasing an additional 9,805 shares during the period. Jane Street Group LLC bought a new position in shares of Innoviva in the third quarter worth $144,000. Macquarie Group Ltd. bought a new position in shares of Innoviva in the third quarter worth $144,000. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Innoviva by 37.8% in the second quarter. Cubist Systematic Strategies LLC now owns 13,005 shares of the biotechnology company’s stock worth $166,000 after purchasing an additional 3,569 shares during the period. 72.14% of the stock is currently owned by hedge funds and other institutional investors.
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)).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Innoviva Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innoviva Inc. and related companies with MarketBeat.com's FREE daily email newsletter.