Innoviva Inc (NASDAQ:INVA) Expected to Post Earnings of $0.42 Per Share

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Wall Street brokerages predict that Innoviva Inc (NASDAQ:INVA) will announce earnings per share of $0.42 for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Innoviva’s earnings. Innoviva reported earnings per share of $0.49 during the same quarter last year, which suggests a negative year over year growth rate of 14.3%. The firm is scheduled to issue its next earnings report on Thursday, July 25th.

On average, analysts expect that Innoviva will report full year earnings of $1.58 per share for the current year. For the next financial year, analysts forecast that the business will report earnings of $1.21 per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Innoviva.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.05). Innoviva had a net margin of 151.35% and a return on equity of 1,674.72%. The business had revenue of $55.18 million during the quarter.

A number of analysts recently issued reports on INVA shares. Zacks Investment Research cut H&E Equipment Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 17th. ValuEngine cut Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, BidaskClub cut Zebra Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th.

Shares of NASDAQ INVA traded down $0.11 during trading on Wednesday, reaching $13.33. 17,373 shares of the stock traded hands, compared to its average volume of 607,842. Innoviva has a 52-week low of $13.07 and a 52-week high of $20.54. The company has a debt-to-equity ratio of 1.93, a current ratio of 66.01 and a quick ratio of 66.02. The firm has a 50-day moving average of $14.13. The stock has a market cap of $1.36 billion, a PE ratio of 3.76 and a beta of 1.63.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Prudential Financial Inc. grew its stake in Innoviva by 18.1% in the fourth quarter. Prudential Financial Inc. now owns 138,669 shares of the biotechnology company’s stock worth $2,420,000 after purchasing an additional 21,269 shares in the last quarter. First Trust Advisors LP grew its position in shares of Innoviva by 186.8% in the 4th quarter. First Trust Advisors LP now owns 126,400 shares of the biotechnology company’s stock worth $2,206,000 after buying an additional 82,335 shares during the last quarter. Texas Permanent School Fund grew its position in shares of Innoviva by 3.5% in the 4th quarter. Texas Permanent School Fund now owns 44,300 shares of the biotechnology company’s stock worth $773,000 after buying an additional 1,508 shares during the last quarter. Great West Life Assurance Co. Can grew its position in shares of Innoviva by 3.5% in the 4th quarter. Great West Life Assurance Co. Can now owns 90,814 shares of the biotechnology company’s stock worth $1,463,000 after buying an additional 3,099 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Innoviva by 8.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,332,417 shares of the biotechnology company’s stock worth $40,700,000 after buying an additional 190,568 shares during the last quarter. Institutional investors own 77.83% 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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