Innovus Pharmaceuticals Inc (OTCMKTS:INNV) Major Shareholder Buys $46,548.48 in Stock

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Innovus Pharmaceuticals Inc (OTCMKTS:INNV) major shareholder Armistice Capital Master Fund bought 18,183 shares of the stock in a transaction on Tuesday, September 17th. The stock was acquired at an average cost of $2.56 per share, for a total transaction of $46,548.48. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Shares of INNV stock traded down $0.19 during mid-day trading on Thursday, reaching $2.21. The stock had a trading volume of 3,025 shares, compared to its average volume of 13,223. The firm’s 50 day simple moving average is $1.62 and its 200 day simple moving average is $2.01. The company has a quick ratio of 0.46, a current ratio of 0.69 and a debt-to-equity ratio of 13.78. Innovus Pharmaceuticals Inc has a one year low of $1.05 and a one year high of $13.65. The firm has a market cap of $5.75 million, a PE ratio of -0.53 and a beta of 2.20.

Innovus Pharmaceuticals (OTCMKTS:INNV) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.66) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.47). Innovus Pharmaceuticals had a negative return on equity of 1,618.20% and a negative net margin of 34.33%. The firm had revenue of $6.85 million during the quarter, compared to the consensus estimate of $7.65 million. Sell-side analysts forecast that Innovus Pharmaceuticals Inc will post -1.79 earnings per share for the current fiscal year.

A number of research firms have issued reports on INNV. ValuEngine raised Innovus Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. HC Wainwright reiterated a “buy” rating and issued a $5.00 price objective on shares of Innovus Pharmaceuticals in a research report on Tuesday.

About Innovus Pharmaceuticals

Innovus Pharmaceuticals, Inc, a pharmaceutical company, engages in the development, licensing, and commercialization of non-prescription medicines and consumer care products in the United States. Its products include Zestra, a proprietary blend of essential oils to enhance desire, arousal, and satisfaction in women; EjectDelay, an over-the-counter monograph compliant benzocaine gel for premature ejaculation; Sensum+, a non-medicated cream for penile sensitivity; Zestra Glide, a water-based longer lasting lubricant; Vesele, a proprietary oral supplement for promoting sexual health; and Androferti, a natural supplement to support male reproductive health and sperm quality.

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