-$0.14 Earnings Per Share Expected for Innovate Biopharmaceuticals Inc (NASDAQ:INNT) This Quarter

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).



A number of equities analysts have commented on INNT shares. ValuEngine raised Innovate Biopharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Zacks Investment Research cut Innovate Biopharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Finally, HC Wainwright reduced their target price on Innovate Biopharmaceuticals from $35.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, July 1st.

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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