Innovus Pharmaceuticals’ (INNV) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Innovus Pharmaceuticals (OTCMKTS:INNV) in a report published on Tuesday, reports. HC Wainwright currently has a $5.00 price target on the stock.

“Our $5 PT was derived by using an 11% weighted-average cost of capital to discount free cash flows we project 2019-2030, and dividing them by our projected number of shares for each year to account for the effects of share dilution, and then ascribing a 0% terminal growth rate and 76% abbreviated NDA (ANDA) probability of success.”,” HC Wainwright’s analyst commented.

Separately, ValuEngine raised shares of Innovus Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, August 1st.

Shares of INNV stock opened at $2.21 on Tuesday. The company has a 50 day moving average of $1.64 and a 200-day moving average of $2.02. 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 has a 12-month low of $1.05 and a 12-month high of $13.65. The firm has a market cap of $5.75 million, a P/E ratio of -0.53 and a beta of 2.20.

Innovus Pharmaceuticals (OTCMKTS:INNV) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.66) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.47). The business had revenue of $6.85 million during the quarter, compared to the consensus estimate of $7.65 million. Innovus Pharmaceuticals had a negative return on equity of 1,618.20% and a negative net margin of 34.33%. As a group, equities analysts expect that Innovus Pharmaceuticals will post -1.79 EPS for the current year.

In related news, major shareholder Armistice Capital Master Fund acquired 18,183 shares of the stock in a transaction dated Tuesday, September 17th. The shares were purchased at an average price of $2.56 per share, for a total transaction of $46,548.48. 12.84% of the stock is owned by company insiders.

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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