Innovus Pharmaceuticals Inc. (fka INNV)

[florida investor]

((((NEWS OUT)))) April 10, 2018 - 8:54 AM EDT
http://client.irwebkit.com/innovuspharma/news/2441904

SeeThruEquity Issues Update on Innovus Pharmaceuticals (INNV) with Target Price of $0.70
NEW YORK, NY / ACCESSWIRE / April 10, 2018 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced it has issued an update on Innovus Pharmaceuticals, Inc. with target price of $0.70.

The report is available here: April 2018 Update Note.

Innovus Pharmaceuticals, Inc. (OTCQB: INNV, "Innovus") is a fast-growing commercial stage pharmaceutical company that delivers safe, innovative and effective over-the-counter (OTC) medicine and consumer care products to improve men and women's health, respiratory disease and vitality. Led by CEO Dr. Bassam Damaj, Innovus is based in San Diego, CA and has demonstrated robust growth in its product offerings and annual revenues since we initiated coverage on the company in September 2014, with revenues growing from approximately $1.0mn in 2014 to $8.8mn in 2017 and guidance for more than $18mn in revenues in 2018.

Innovus reported 4Q17 and full year 2017 results on April 2, 2018, during which the company continued to generate strong top line growth and issued guidance to more than double revenues in 2018. Highlights include:

INNV revenues increased by 83% in 2018 to reach $8.8mn, versus $4.8mn in 2016. Net loss was ($6.5mn), or ($0.04) per share.
4Q17 revenues were $2.4mn, up 7% sequentially from $2.2mn in 3Q17 and approximately 40% from 4Q16 levels of $1.7mn in 4Q17. Net loss in the quarter was ($1.5mn), or ($0.01) per share.
INNV CEO Bassam Damaj issued a positive outlook for growth in 1Q18, with net revenue expected to be in a range of $4.3mn to $4.4mn.
While sales of FlutiCare® are in the early stages, as allergy season is just beginning, management restated its goal of reaching $10mn-$15mn in FlutiCare® sales in the first year following launch. We assume a key driver of the guidance for a sizeable increase in revenues in 1Q18 over 4Q17 is the FlutiCare® launch.
Innovus guides for revenues to more than double in 2018. For the full year 2018, Bassam expects net revenues to be greater than $18mn. The company also expects to reach profitability excluding non-cash items during 2018.
We are updating our estimates to revenue of $19.5mn and EPS of ($0.01), reflecting the guidance. Our estimates assume growth in the core portfolio and the addition of net revenues from FlutiCare®.
FlutiCare enters 2018 with an improved balance sheet. The company ended 2017 with cash of $1.6mn, and reported $4.7mn of cash on hand during its call with investors on April 2, 2018, after receiving $1.9mn in notes payable and $2.7mn from the exercise of warrants. The company is seeking to exit the year profitable on a cash basis.
Price target of $0.70 for Innovus

Our price target is unchanged at this time. We recently increased the price target for INNV following the launch of FlutiCare®. The main driver of our view is expectations for growth resulting from an expanding portfolio of products sold by Innovus, which should only accelerate with the launch of a potentially game-changing new product line in FlutiCare™. We estimate 2018E revenues of $19.5mn and look forward to receiving an update on sell-thru of the initial batch of FlutiCare® as allergy season commences.

Please review important disclosures in the report and on our website at www.seethruequity.com.

About Innovus Pharmaceuticals, Inc.

Headquartered in San Diego, Innovus Pharma is an emerging OTC consumer goods and specialty pharmaceutical company engaged in the commercialization, licensing and development of safe and effective non-prescription medicine and consumer care products to improve men's and women's health and vitality and respiratory diseases. Innovus Pharma delivers innovative and uniquely presented and packaged health solutions through its (a) OTC medicines and consumer and health products, which we market directly, (b) commercial partners to primary care physicians, urologists, gynecologists and therapists, and (c) directly to consumers through our on-line channels, retailers and wholesalers. The Company is dedicated to becoming a leader in developing and marketing new OTC and branded Abbreviated New Drug Application (“ANDA”) products, men's and women's health supplements, related diagnostics and medical devices. The Company is actively pursuing opportunities where existing prescription drugs have recently, or are expected to, change from prescription (or Rx) to OTC, as well as related products. Innovuspharma.com

About SeeThruEquity

Since its founding in 2011, SeeThruEquity has been committed to its core mission: providing impactful, high quality research on underfollowed smallcap and microcap equities. SeeThruEquity has pioneered an innovative approach to deliver equity research of microcap and smallcap companies. SeeThruEquity has also been the host of acclaimed investor conferences that are the ultimate event for publicly traded companies with market capitalizations less than $1 billion since 2012.

SeeThruEquity is approved to contribute its research reports and estimates to Thomson One Analytics (First Call), the leading estimates platform on Wall Street, as well as Capital IQ and FactSet. SeeThruEquity maintains one of the industry's most extensive databases of opt-in institutional and high net worth investors. The firm is headquartered in Midtown Manhattan in New York City.

For more information visit www.seethruequity.com.

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SOURCE: SeeThruEquity



Source: ACCESSWIRE Investor Awareness (April 10, 2018 - 8:54 AM EDT)

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