Analysts expect that Innoviva Inc (NASDAQ:INVA) will report $49.12 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Innoviva’s earnings, with the highest sales estimate coming in at $50.44 million and the lowest estimate coming in at $47.79 million. Innoviva posted sales of $32.47 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 51.3%. The company is scheduled to report its next earnings report on Thursday, July 27th.
On average, analysts expect that Innoviva will report full-year sales of $49.12 million for the current financial year, with estimates ranging from $191.93 million to $205.86 million. For the next fiscal year, analysts forecast that the firm will report sales of $230.12 million per share, with estimates ranging from $173.8 million to $272.35 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Innoviva.
Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Thursday, April 27th. The biotechnology company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by $0.12. The company had revenue of $40.50 million for the quarter, compared to analysts’ expectations of $47.66 million. Innoviva had a net margin of 44.57% and a negative return on equity of 20.31%. The business’s revenue for the quarter was up 67.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 earnings per share.
A number of equities research analysts recently commented on the stock. Cowen and Company increased their price objective on shares of Innoviva from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, March 30th. Robert W. Baird reissued a “neutral” rating and issued a $11.00 price objective on shares of Innoviva in a research note on Tuesday, March 14th. Finally, Zacks Investment Research raised shares of Innoviva from a “sell” rating to a “hold” rating in a research note on Tuesday, January 17th.
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A number of large investors have recently modified their holdings of INVA. Aperio Group LLC boosted its stake in shares of Innoviva by 1.4% in the third quarter. Aperio Group LLC now owns 11,836 shares of the biotechnology company’s stock worth $130,000 after buying an additional 169 shares during the last quarter. BlackRock Inc. raised its position in Innoviva by 2.0% in the third quarter. BlackRock Inc. now owns 26,428 shares of the biotechnology company’s stock worth $291,000 after buying an additional 529 shares during the period. Zacks Investment Management raised its position in Innoviva by 3.3% in the third quarter. Zacks Investment Management now owns 16,957 shares of the biotechnology company’s stock worth $186,000 after buying an additional 542 shares during the period. Louisiana State Employees Retirement System raised its position in Innoviva by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 31,600 shares of the biotechnology company’s stock worth $437,000 after buying an additional 600 shares during the period. Finally, Arizona State Retirement System raised its position in Innoviva by 1.8% in the first quarter. Arizona State Retirement System now owns 40,400 shares of the biotechnology company’s stock worth $559,000 after buying an additional 700 shares during the period. 77.62% of the stock is currently owned by hedge funds and other institutional investors.
Innoviva (NASDAQ:INVA) traded up 1.22% during trading on Thursday, reaching $11.64. 900,042 shares of the company’s stock traded hands. Innoviva has a one year low of $8.67 and a one year high of $14.55. The stock has a market cap of $1.27 billion, a P/E ratio of 18.42 and a beta of 2.33. The firm’s 50 day moving average price is $13.06 and its 200-day moving average price is $11.55.
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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