Innoviva, Inc. (INVA) Expected to Post Quarterly Sales of $63.27 Million
Equities analysts expect that Innoviva, Inc. (NASDAQ:INVA) will report sales of $63.27 million for the current quarter, according to Zacks. Two analysts have issued estimates for Innoviva’s earnings, with the highest sales estimate coming in at $65.62 million and the lowest estimate coming in at $60.91 million. Innoviva posted sales of $43.61 million in the same quarter last year, which suggests a positive year over year growth rate of 45.1%. The company is scheduled to report its next earnings results on Thursday, February 8th.
On average, analysts expect that Innoviva will report full-year sales of $63.27 million for the current financial year, with estimates ranging from $208.61 million to $221.78 million. For the next year, analysts anticipate that the firm will report sales of $285.11 million per share, with estimates ranging from $230.43 million to $336.77 million. Zacks’ sales calculations are an average based on a survey of research firms that cover 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 analysts’ consensus estimates of $0.34 by ($0.13). The company had revenue of $48.64 million for the quarter, compared to analyst estimates of $57.18 million. Innoviva had a net margin of 52.91% and a negative return on equity of 33.55%. The firm’s revenue was up 46.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.13 EPS.
Several hedge funds have recently modified their holdings of the company. Alps Advisors Inc. grew its holdings in shares of Innoviva by 0.3% during the second quarter. Alps Advisors Inc. now owns 38,232 shares of the biotechnology company’s stock valued at $489,000 after buying an additional 99 shares in the last quarter. Aperio Group LLC grew its holdings in shares of Innoviva by 2.0% during the second quarter. Aperio Group LLC now owns 20,651 shares of the biotechnology company’s stock valued at $264,000 after buying an additional 398 shares in the last quarter. Texas Permanent School Fund grew its holdings in shares of Innoviva by 1.0% during the second quarter. Texas Permanent School Fund now owns 56,687 shares of the biotechnology company’s stock valued at $726,000 after buying an additional 552 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in shares of Innoviva by 4.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 18,300 shares of the biotechnology company’s stock valued at $234,000 after buying an additional 710 shares in the last quarter. Finally, Profund Advisors LLC grew its holdings in shares of Innoviva by 8.8% during the second quarter. Profund Advisors LLC now owns 15,220 shares of the biotechnology company’s stock valued at $195,000 after buying an additional 1,227 shares in the last quarter. Institutional investors and hedge funds own 69.73% of the company’s stock.
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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)).
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