Zacks: Brokerages Anticipate Innoviva Inc (INVA) Will Announce Quarterly Sales of $73.83 Million
Wall Street analysts forecast that Innoviva Inc (NASDAQ:INVA) will report $73.83 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Innoviva’s earnings, with the highest sales estimate coming in at $81.99 million and the lowest estimate coming in at $69.69 million. Innoviva posted sales of $40.49 million during the same quarter last year, which would indicate a positive year over year growth rate of 82.3%. The firm is expected to report its next quarterly earnings results on Thursday, April 26th.
According to Zacks, analysts expect that Innoviva will report full-year sales of $73.83 million for the current year, with estimates ranging from $232.90 million to $317.86 million. For the next financial year, analysts expect that the firm will report sales of $322.15 million per share, with estimates ranging from $231.45 million to $408.37 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Innoviva.
Innoviva (NASDAQ:INVA) last posted its earnings results on Thursday, February 8th. The biotechnology company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Innoviva had a negative return on equity of 48.93% and a net margin of 61.76%. The business had revenue of $69.52 million during the quarter, compared to analysts’ expectations of $67.41 million. During the same period in the prior year, the business earned $0.22 EPS. Innoviva’s revenue for the quarter was up 59.4% compared to the same quarter last year.
In other news, insider Eric Desparbes sold 5,378 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $16.52, for a total transaction of $88,844.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP George B. Abercrombie sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $16.51, for a total transaction of $132,080.00. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in INVA. BNP Paribas Arbitrage SA grew its stake in shares of Innoviva by 61.7% in the third quarter. BNP Paribas Arbitrage SA now owns 39,121 shares of the biotechnology company’s stock valued at $552,000 after buying an additional 14,931 shares in the last quarter. Sei Investments Co. grew its stake in shares of Innoviva by 33,810.3% in the third quarter. Sei Investments Co. now owns 9,834 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 9,805 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of Innoviva by 66.3% in the third quarter. New York State Common Retirement Fund now owns 130,047 shares of the biotechnology company’s stock valued at $1,836,000 after buying an additional 51,847 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its stake in shares of Innoviva by 53.0% in the third quarter. Municipal Employees Retirement System of Michigan now owns 27,990 shares of the biotechnology company’s stock valued at $395,000 after buying an additional 9,690 shares in the last quarter. Finally, Macquarie Group Ltd. bought a new position in shares of Innoviva in the third quarter valued at $144,000. 74.99% of the stock is owned by institutional investors and hedge funds.
Shares of Innoviva (NASDAQ:INVA) opened at $16.17 on Friday. Innoviva has a 52 week low of $11.02 and a 52 week high of $17.21. The company has a debt-to-equity ratio of -2.37, a quick ratio of 5.77 and a current ratio of 5.77. The stock has a market capitalization of $1,652.60, a P/E ratio of 13.99 and a beta of 2.34.
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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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