Brokerages Anticipate Innoviva Inc (INVA) Will Announce Quarterly Sales of $73.83 Million

Analysts expect Innoviva Inc (NASDAQ:INVA) to post sales of $73.83 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Innoviva’s earnings. The lowest sales estimate is $69.69 million and the highest is $81.99 million. Innoviva posted sales of $40.49 million in the same quarter last year, which suggests a positive year-over-year growth rate of 82.3%. The firm is expected to issue 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 company will post 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 an average based on a survey of sell-side analysts that follow Innoviva.

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Innoviva (NASDAQ:INVA) last issued its earnings results on Thursday, February 8th. The biotechnology company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.01. Innoviva had a net margin of 61.76% and a negative return on equity of 48.93%. The company had revenue of $69.52 million for the quarter, compared to analysts’ expectations of $67.41 million. During the same quarter last year, the company posted $0.22 earnings per share. The firm’s quarterly revenue was up 59.4% on a year-over-year basis.

Several equities research analysts recently issued reports on the stock. ValuEngine upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Zacks Investment Research upgraded shares of Innoviva from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. TheStreet upgraded shares of Innoviva from a “c+” rating to a “b” rating in a research report on Friday, February 9th. BidaskClub upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $17.00 price target on shares of Innoviva in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Innoviva presently has a consensus rating of “Hold” and a consensus target price of $13.83.

Shares of INVA stock opened at $16.46 on Monday. Innoviva has a 12-month low of $11.02 and a 12-month 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 company has a market capitalization of $1,676.02, a P/E ratio of 14.07 and a beta of 2.17.

In other news, insider Eric Desparbes sold 5,378 shares of the firm’s stock in a transaction 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 filing with the SEC, which is available through this hyperlink. Also, VP George B. Abercrombie sold 8,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were 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.

Hedge funds have recently made changes to their positions in the company. Sarissa Capital Management LP raised its position in shares of Innoviva by 3.2% during the 3rd quarter. Sarissa Capital Management LP now owns 3,600,705 shares of the biotechnology company’s stock valued at $50,841,000 after purchasing an additional 110,000 shares during the period. Engineers Gate Manager LP bought a new stake in shares of Innoviva during the 3rd quarter valued at $1,492,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in shares of Innoviva by 8.5% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 330,500 shares of the biotechnology company’s stock valued at $4,690,000 after purchasing an additional 25,900 shares during the period. Chicago Equity Partners LLC raised its position in shares of Innoviva by 6.8% during the 4th quarter. Chicago Equity Partners LLC now owns 563,610 shares of the biotechnology company’s stock valued at $7,998,000 after purchasing an additional 35,950 shares during the period. Finally, LSV Asset Management bought a new stake in shares of Innoviva during the 4th quarter valued at $1,405,000. Hedge funds and other institutional investors own 74.99% of the company’s stock.

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About Innoviva

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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