SECFilings.com: Innovus Pharma (INNV) Reaches a Positive Cash Flow & Issues Strong Outlook
Independent Analyst Suggests Price Target 170% Higher Than Current Levels Based on Strong Future Growth and Profitability
(firmenpresse) - REDONDO BEACH, CA -- (Marketwired) -- 08/18/16 -- SECFilings.com, a leading financial news and information portal offering free real time public company filing alerts, announces publication of an article discussing Innovus Pharmaceuticals'' (OTCQB: INNV) recent strong earnings growth, the path forward, and analyst reaction to the company''s surge in revenues.
The company reported a robust second quarter with $1 million in revenue and positive operational cash flow of $256,000. In addition to exceeding Q2 estimates, the company issued revenue guidance of $5 million in FY16 that was well ahead of expectations for the year. SeeThruEquity analysts responded to the strong earnings and outlook by raising their price target to $1.00 per share -- a 170% premium to the current market price.
The analyst firm projects that revenues will grow from $5 million in FY16 to $14.7 million by FY17, while net income will swing from a $3.5 million loss in FY16 to a $1.6 million profit by FY17. When it comes to valuation, the firm anticipates that the stock will trade with an EV/EBITDA multiple of 14.2x and an EV/Revenue multiple of 2.2x by FY17. These estimates also reflect gross margins of just 64% by FY17 despite Q2 margins of more than 70%.
"We have exceeded our commercial expectations, and with the projected launch of Sensum+®, RecalMax™, and Xyralid® in the second half of 2016, we believe that revenues will continue to increase through the balance of 2016 and into 2017 and exceed our projections," said Innovus Pharmaceuticals President & CEO Dr. Bassam Damaj. "Becoming operationally cash flow positive from the second quarter, and ahead of the timeline projected, is a major financial achievement for the company and a big step towards our projected profitability in 2017."
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Paul Archie
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Datum: 18.08.2016 - 04:00 Uhr
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