Analysts predict that Innoviva, Inc. (NASDAQ:INVA) will report $66.75 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Innoviva’s earnings, with the highest sales estimate coming in at $73.71 million and the lowest estimate coming in at $60.91 million. Innoviva posted sales of $43.61 million during the same quarter last year, which would indicate a positive year over year growth rate of 53.1%. The business is expected to issue its next quarterly earnings results on Thursday, February 8th.

According to Zacks, analysts expect that Innoviva will report full year sales of $66.75 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 business will post sales of $289.85 million per share, with estimates ranging from $230.43 million to $336.77 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Innoviva.

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

A number of brokerages recently commented on INVA. Zacks Investment Research lowered Innoviva from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 16th. ValuEngine lowered Innoviva from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Stifel Nicolaus reiterated a “neutral” rating on shares of Innoviva in a research report on Friday, September 15th. Robert W. Baird reiterated a “hold” rating and issued a $13.00 target price on shares of Innoviva in a research report on Tuesday, October 24th. Finally, Cowen set a $16.00 target price on Innoviva and gave the company a “buy” rating in a research report on Monday, October 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Innoviva presently has an average rating of “Hold” and a consensus price target of $13.50.

Shares of Innoviva (INVA) traded up $0.12 during midday trading on Monday, reaching $13.00. The company had a trading volume of 700,700 shares, compared to its average volume of 1,041,288. The stock has a market capitalization of $1,420.00, a price-to-earnings ratio of 14.94 and a beta of 2.53. Innoviva has a 52-week low of $10.29 and a 52-week high of $14.87. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of -2.59.

In other Innoviva news, VP George B. Abercrombie sold 5,215 shares of the business’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 completion of the transaction, the vice president now directly owns 263,866 shares of the company’s stock, valued at $3,498,863.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael W. Aguiar sold 12,022 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $13.13, for a total value of $157,848.86. Following the completion of the transaction, the insider now directly owns 980,907 shares of the company’s stock, valued at $12,879,308.91. The disclosure for this sale can be found here. Insiders sold 32,522 shares of company stock valued at $429,985 over the last three months. 1.60% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in INVA. FMR LLC raised its stake in shares of Innoviva by 5.3% during the 2nd quarter. FMR LLC now owns 16,017,256 shares of the biotechnology company’s stock worth $205,021,000 after buying an additional 802,605 shares during the period. Marshall Wace North America L.P. raised its stake in shares of Innoviva by 3,296.8% during the 2nd quarter. Marshall Wace North America L.P. now owns 822,356 shares of the biotechnology company’s stock worth $10,691,000 after buying an additional 798,146 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Innoviva by 1,379.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 780,546 shares of the biotechnology company’s stock worth $10,896,000 after buying an additional 727,803 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Innoviva by 651.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 801,994 shares of the biotechnology company’s stock worth $10,266,000 after buying an additional 695,272 shares during the period. Finally, Gotham Asset Management LLC raised its stake in shares of Innoviva by 596.6% during the 2nd quarter. Gotham Asset Management LLC now owns 571,223 shares of the biotechnology company’s stock worth $7,312,000 after buying an additional 489,223 shares during the period. 74.45% of the stock is owned by institutional investors.

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Innoviva Company Profile

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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