Analysts expect Innovate Biopharmaceuticals Inc (NASDAQ:INNT) to report ($0.13) earnings per share for the current quarter, Zacks reports. Zero analysts have provided estimates for Innovate Biopharmaceuticals’ earnings. Innovate Biopharmaceuticals reported earnings per share of ($0.11) in the same quarter last year, which suggests a negative year over year growth rate of 18.2%. The business is scheduled to issue its next quarterly earnings report on Monday, March 16th.
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 company will report earnings of ($0.68) per share. Zacks’ EPS calculations are an average based on a survey of research firms that follow Innovate Biopharmaceuticals.
Separately, Zacks Investment Research cut shares of Innovate Biopharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th.
INNT traded down $0.03 on Thursday, hitting $0.72. 116,176 shares of the company were exchanged, compared to its average volume of 428,984. The company has a market cap of $26.91 million, a price-to-earnings ratio of -0.74 and a beta of -2.48. Innovate Biopharmaceuticals has a twelve month low of $0.71 and a twelve month high of $4.32. The firm has a 50-day moving average price of $0.85 and a two-hundred day moving average price of $1.03.
About Innovate Biopharmaceuticals
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).
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