Equities research analysts forecast that Innovate Biopharmaceuticals Inc (NASDAQ:INNT) will report earnings of ($0.14) per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Innovate Biopharmaceuticals’ earnings. Innovate Biopharmaceuticals reported earnings per share of ($0.03) during the same quarter last year, which would indicate a negative year-over-year growth rate of 366.7%. The firm is expected to issue its next quarterly earnings results on Tuesday, November 12th.
On average, analysts expect that Innovate Biopharmaceuticals will report full year earnings of ($0.58) per share for the current financial year. For the next financial year, analysts forecast that the firm will report earnings of ($0.68) per share. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that follow Innovate Biopharmaceuticals.
Innovate Biopharmaceuticals (NASDAQ:INNT) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.13).
Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Innovate Biopharmaceuticals by 14.5% during the second quarter. Vanguard Group Inc. now owns 955,144 shares of the company’s stock valued at $1,108,000 after buying an additional 121,104 shares during the period. Paloma Partners Management Co purchased a new position in shares of Innovate Biopharmaceuticals during the second quarter valued at approximately $104,000. GSA Capital Partners LLP increased its stake in shares of Innovate Biopharmaceuticals by 59.6% during the second quarter. GSA Capital Partners LLP now owns 64,786 shares of the company’s stock valued at $75,000 after buying an additional 24,186 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Innovate Biopharmaceuticals during the first quarter valued at approximately $28,000. 9.71% of the stock is currently owned by hedge funds and other institutional investors.
Innovate Biopharmaceuticals stock traded down $0.08 during trading hours on Friday, reaching $1.06. The company had a trading volume of 127,300 shares, compared to its average volume of 487,281. The company has a 50-day moving average price of $0.94 and a 200 day moving average price of $1.36. The firm has a market cap of $40.90 million, a price-to-earnings ratio of -1.10 and a beta of -2.44. Innovate Biopharmaceuticals has a 12-month low of $0.73 and a 12-month high of $7.95.
Innovate Biopharmaceuticals Company Profile
Innovate Biopharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops medicines for autoimmune and inflammatory diseases. The company's lead product candidate is INN-202 that has completed Phase IIb clinical trial for the treatment of celiac disease. It also develops INN-108, which has completed Phase I clinical trial to treat mild-to-moderate ulcerative colitis; INN-217 for the treatment of non-alcoholic steatohepatitis and microbiome; and INN-289 to treat crohn's disease, as well as product for the treatment of alcoholic steatohepatitis (ASH).
Further Reading: Return on Equity (ROE)
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