H.C. Wainwright Reiterates a Buy Rating on Innovus Pharmaceuticals Inc (INNV)

By Ryan Adsit

In a report released today, Vernon Bernardino from H.C. Wainwright reiterated a Buy rating on Innovus Pharmaceuticals Inc (INNVResearch Report), with a price target of $5. The company’s shares closed last Monday at $2.74.

Bernardino commented:

“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.”

According to TipRanks.com, Bernardino is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -5.7% and a 30.9% success rate. Bernardino covers the Healthcare sector, focusing on stocks such as Citius Pharmaceuticals Inc, Miragen Therapeutics Inc, and Seelos Therapeutics Inc.

Currently, the analyst consensus on Innovus Pharmaceuticals Inc is a Moderate Buy with an average price target of $5.

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The company has a one-year high of $13.65 and a one-year low of $0.05. Currently, Innovus Pharmaceuticals Inc has an average volume of 5,921.

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Innovus Pharmaceuticals, Inc. engages in the commercialization, licensing, and development of non-prescription medicine, and consumer care products for health and vitality, and respiratory diseases. The firm also provides packaged healthcare solutions through over-the-counter, medicines and consumer and health products, which it market directly or through commercial partners to primary care physicians, urologists, gynecologists and therapists, and directly to consumers through on-line channels, retailers and wholesalers. Its business model leverages the ability to acquire and in-license commercial products that are supported by scientific, and or clinical evidence, place them through it existing supply chain, retail and on-line channels. The company was founded on January 15, 1959 and is headquartered in San Diego, CA.