Innoviva, Inc. (INVA) Expected to Post Earnings of $0.45 Per Share

Wall Street brokerages expect Innoviva, Inc. (NASDAQ:INVA) to report earnings of $0.45 per share for the current quarter, Zacks reports. Three analysts have issued estimates for Innoviva’s earnings, with the highest EPS estimate coming in at $0.53 and the lowest estimate coming in at $0.37. Innoviva reported earnings of $0.21 per share in the same quarter last year, which indicates a positive year over year growth rate of 114.3%. The company is expected to announce its next quarterly earnings report on Thursday, February 8th.

According to Zacks, analysts expect that Innoviva will report full year earnings of $1.07 per share for the current fiscal year, with EPS estimates ranging from $1.00 to $1.15. For the next year, analysts forecast that the company will post earnings of $2.01 per share, with EPS estimates ranging from $1.40 to $2.44. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Innoviva.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data on Wednesday, October 25th. The biotechnology company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.13). Innoviva had a negative return on equity of 33.55% and a net margin of 52.91%. The company had revenue of $48.64 million for the quarter, compared to the consensus estimate of $57.18 million. During the same quarter last year, the business earned $0.13 earnings per share. Innoviva’s revenue was up 46.0% compared to the same quarter last year.

A number of brokerages have recently issued reports on INVA. Morgan Stanley restated an “underweight” rating and set a $8.00 price objective (up from $7.00) on shares of Innoviva in a research report on Friday, October 6th. ValuEngine raised Innoviva from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Stifel Nicolaus reaffirmed a “neutral” rating on shares of Innoviva in a research note on Friday, September 15th. Robert W. Baird reaffirmed a “hold” rating and set a $13.00 target price on shares of Innoviva in a research note on Tuesday, October 24th. Finally, Cowen set a $16.00 target price on Innoviva and gave the stock a “buy” rating in a research note on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $13.50.

In related news, 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 completion of the sale, the insider now owns 980,907 shares of the company’s stock, valued at $12,879,308.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP George B. Abercrombie sold 5,215 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $13.26, for a total value of $69,150.90. Following the sale, the vice president now directly owns 263,866 shares of the company’s stock, valued at approximately $3,498,863.16. The disclosure for this sale can be found here. Insiders have sold 32,522 shares of company stock valued at $429,985 in the last ninety days. 1.60% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the business. Federated Investors Inc. PA grew its stake in Innoviva by 9.2% in the second quarter. Federated Investors Inc. PA now owns 121,499 shares of the biotechnology company’s stock valued at $1,555,000 after acquiring an additional 10,269 shares during the period. State of Wisconsin Investment Board acquired a new stake in Innoviva in the second quarter valued at approximately $730,000. Teachers Advisors LLC grew its stake in Innoviva by 3.4% in the first quarter. Teachers Advisors LLC now owns 135,848 shares of the biotechnology company’s stock valued at $1,879,000 after acquiring an additional 4,452 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in Innoviva in the third quarter valued at approximately $533,000. Finally, Denali Advisors LLC acquired a new stake in Innoviva in the third quarter valued at approximately $570,000. 74.44% of the stock is owned by hedge funds and other institutional investors.

Innoviva (NASDAQ INVA) opened at $13.00 on Friday. Innoviva has a 1 year low of $10.29 and a 1 year high of $14.87. The company has a debt-to-equity ratio of -2.59, a quick ratio of 6.71 and a current ratio of 6.71. The stock has a market capitalization of $1,390.00, a PE ratio of 14.63 and a beta of 2.53.

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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)).

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