Innoviva (INVA) Announces Earnings Results, Beats Estimates By $0.01 EPS

Innoviva (NASDAQ:INVA) issued its quarterly earnings results on Thursday. The biotechnology company reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01, Yahoo Finance reports. The firm had revenue of $69.52 million for the quarter, compared to analyst estimates of $67.41 million. Innoviva had a net margin of 52.91% and a negative return on equity of 33.55%. Innoviva’s quarterly revenue was up 59.4% compared to the same quarter last year. During the same period last year, the company posted $0.22 EPS.

Shares of Innoviva (NASDAQ:INVA) traded up $1.12 during midday trading on Friday, hitting $14.92. 239,747 shares of the stock were exchanged, compared to its average volume of 869,792. The firm has a market cap of $1,535.97, a P/E ratio of 16.34 and a beta of 2.52. 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 fifty-two week low of $11.02 and a fifty-two week high of $16.11.

In other news, CFO Eric Desparbes sold 15,285 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $13.28, for a total transaction of $202,984.80. Following the completion of the sale, the chief financial officer now owns 337,027 shares in the company, valued at approximately $4,475,718.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael W. Aguiar sold 12,022 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $13.13, for a total transaction of $157,848.86. Following the sale, the insider now owns 980,907 shares of the company’s stock, valued at approximately $12,879,308.91. The disclosure for this sale can be found here. Insiders have sold a total of 32,522 shares of company stock valued at $429,985 in the last 90 days. Insiders own 1.60% of the company’s stock.

INVA has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Innoviva from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Deutsche Bank initiated coverage on shares of Innoviva in a report on Monday, November 20th. They issued a “hold” rating and a $13.00 price objective for the company. Robert W. Baird reiterated a “hold” rating and issued a $13.00 price objective on shares of Innoviva in a report on Tuesday, October 24th. Cowen set a $16.00 price objective on shares of Innoviva and gave the company a “buy” rating in a report on Monday, October 23rd. Finally, BidaskClub upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $13.50.

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About Innoviva

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)).

Earnings History for Innoviva (NASDAQ:INVA)

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