Innoviva (INVA) Releases Earnings Results, Misses Estimates By $0.06 EPS

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Innoviva (NASDAQ:INVA) announced its quarterly earnings data on Wednesday. The biotechnology company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06), reports. The firm had revenue of $61.70 million during the quarter, compared to analyst estimates of $64.00 million. Innoviva had a net margin of 70.01% and a negative return on equity of 83.69%. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share.

Innoviva stock traded up $0.99 during midday trading on Thursday, hitting $14.95. 137,956 shares of the company were exchanged, compared to its average volume of 903,066. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 12.52 and a beta of 2.21. Innoviva has a fifty-two week low of $12.06 and a fifty-two week high of $17.99.

A number of research analysts have recently weighed in on INVA shares. BidaskClub lowered Innoviva from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. ValuEngine raised Innoviva from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $15.00.

In related news, VP Theodore J. Jr. Witek sold 8,504 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $14.12, for a total transaction of $120,076.48. Following the sale, the vice president now directly owns 256,271 shares of the company’s stock, valued at $3,618,546.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by company insiders.

About Innoviva

Innoviva, Inc engages in the development and commercialization of bio-pharmaceuticals. Its portfolio of respiratory products include RELVAR/BREO ELLIPTA, (fluticasone furoate/ vilanterol, FF/VI); ANORO ELLIPTA (umeclidinium bromide/ vilanterol, UMEC/VI); and TRELEGY ELLIPTA (the combination FF/UMEC/VI).

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Earnings History for Innoviva (NASDAQ:INVA)

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