$0.38 Earnings Per Share Expected for Innoviva Inc (INVA) This Quarter

Wall Street brokerages expect Innoviva Inc (NASDAQ:INVA) to announce earnings of $0.38 per share for the current quarter, Zacks reports. Zero analysts have made estimates for Innoviva’s earnings. Innoviva reported earnings of $0.35 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.6%. The business is scheduled to report its next quarterly earnings report on Thursday, April 25th.

According to Zacks, analysts expect that Innoviva will report full year earnings of $1.46 per share for the current year. For the next financial year, analysts forecast that the company will post earnings of $1.12 per share. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Innoviva.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings results on Wednesday, February 6th. The biotechnology company reported $2.34 earnings per share for the quarter. Innoviva had a negative return on equity of 508.18% and a net margin of 151.36%. The company had revenue of $79.86 million for the quarter.

Several equities research analysts have weighed in on INVA shares. Zacks Investment Research downgraded Innoviva from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. BidaskClub downgraded Innoviva from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 2nd. Finally, ValuEngine downgraded Innoviva from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th.

NASDAQ INVA traded up $0.08 during trading hours on Wednesday, hitting $13.18. 26,193 shares of the company were exchanged, compared to its average volume of 744,889. The company has a debt-to-equity ratio of 2.41, a current ratio of 34.92 and a quick ratio of 34.92. Innoviva has a 52-week low of $13.07 and a 52-week high of $20.54. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 3.72 and a beta of 1.85.

In other news, insider Marianne Zhen sold 5,617 shares of the stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $16.00, for a total value of $89,872.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Geoffrey Hulme acquired 7,000 shares of the company’s stock in a transaction dated Friday, February 15th. The stock was acquired at an average price of $14.80 per share, for a total transaction of $103,600.00. The disclosure for this purchase can be found here. In the last quarter, insiders bought 32,000 shares of company stock worth $491,100. Company insiders own 0.18% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. TrimTabs Asset Management LLC purchased a new position in shares of Innoviva in the 4th quarter valued at about $1,116,000. Amalgamated Bank purchased a new position in Innoviva during the 4th quarter worth approximately $194,000. Assenagon Asset Management S.A. purchased a new position in Innoviva during the 4th quarter worth approximately $3,447,000. Financial Gravity Companies Inc. purchased a new position in Innoviva during the 4th quarter worth approximately $40,000. Finally, Geode Capital Management LLC grew its stake in Innoviva by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 799,879 shares of the biotechnology company’s stock worth $13,957,000 after buying an additional 23,141 shares during the last quarter. Institutional investors and hedge funds own 79.09% of the company’s stock.

Innoviva Company Profile

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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