Zacks: Analysts Anticipate Innoviva Inc (NASDAQ:INVA) to Post $0.60 EPS

Wall Street analysts forecast that Innoviva Inc (NASDAQ:INVA) will post earnings of $0.60 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have made estimates for Innoviva’s earnings. Innoviva reported earnings per share of $2.34 during the same quarter last year, which would indicate a negative year-over-year growth rate of 74.4%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, February 5th.

On average, analysts expect that Innoviva will report full-year earnings of $2.03 per share for the current financial year. For the next financial year, analysts expect that the firm will report earnings of $1.34 per share. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Innoviva.

Innoviva (NASDAQ:INVA) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. The firm had revenue of $65.38 million for the quarter. Innoviva had a return on equity of 168.69% and a net margin of 141.80%.

Several brokerages have recently issued reports on INVA. TheStreet downgraded Innoviva from a “b-” rating to a “c+” rating in a research report on Thursday, August 8th. ValuEngine upgraded Innoviva from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. BidaskClub raised shares of Innoviva from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Zacks Investment Research raised shares of Innoviva from a “hold” rating to a “strong-buy” rating and set a $14.00 target price for the company in a research note on Wednesday, November 6th.

Several hedge funds have recently bought and sold shares of INVA. First Trust Advisors LP lifted its position in shares of Innoviva by 73.3% in the 1st quarter. First Trust Advisors LP now owns 219,037 shares of the biotechnology company’s stock worth $3,073,000 after buying an additional 92,637 shares during the last quarter. CWM Advisors LLC lifted its holdings in Innoviva by 8.3% in the second quarter. CWM Advisors LLC now owns 12,025 shares of the biotechnology company’s stock worth $175,000 after acquiring an additional 925 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Innoviva by 5.4% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 29,400 shares of the biotechnology company’s stock worth $428,000 after acquiring an additional 1,500 shares during the last quarter. Virginia Retirement Systems ET AL lifted its stake in shares of Innoviva by 5.7% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 106,500 shares of the biotechnology company’s stock worth $1,551,000 after acquiring an additional 5,700 shares during the period. Finally, Regal Investment Advisors LLC increased its stake in shares of Innoviva by 1.1% during the second quarter. Regal Investment Advisors LLC now owns 125,844 shares of the biotechnology company’s stock valued at $1,832,000 after acquiring an additional 1,386 shares during the period. 71.70% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ INVA opened at $12.97 on Friday. Innoviva has a fifty-two week low of $10.03 and a fifty-two week high of $20.54. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 3.67 and a beta of 1.51. The business has a fifty day moving average of $11.95 and a 200-day moving average of $12.40. The company has a quick ratio of 110.18, a current ratio of 110.18 and a debt-to-equity ratio of 1.37.

About Innoviva

Innoviva, Inc engages in the development and commercialization of pharmaceuticals. The company has long-acting beta2 agonist (LABA) collaboration agreement with Glaxo Group Limited to develop and commercialize once-daily products for the treatment of chronic obstructive pulmonary disease and asthma. Its products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a long-acting beta2 agonist (LABA), vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate (FF); ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA), umeclidinium bromide (UMEC), with a LABA, and VI; and TRELEGY ELLIPTA, a once-daily combination medicine consisting of an ICS, LAMA and LABA.

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