Innoviva (NASDAQ:INVA) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Innoviva (NASDAQ:INVA – Free Report) from a buy rating to a strong-buy rating in a report issued on Saturday.

A number of other brokerages also recently commented on INVA. Oppenheimer began coverage on Innoviva in a research report on Monday, August 11th. They set an “outperform” rating and a $45.00 price target for the company. The Goldman Sachs Group started coverage on Innoviva in a research report on Tuesday, September 30th. They issued a “sell” rating and a $17.00 target price for the company. Zacks Research raised Innoviva from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 8th. HC Wainwright raised their target price on Innoviva from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Innoviva in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.60.

Read Our Latest Research Report on INVA

Innoviva Stock Performance

Shares of INVA opened at $17.72 on Friday. The company has a current ratio of 2.64, a quick ratio of 2.44 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 57.16 and a beta of 0.40. The stock has a 50 day moving average of $18.90 and a 200 day moving average of $19.21. Innoviva has a 12 month low of $16.52 and a 12 month high of $22.00.

Innoviva (NASDAQ:INVA – Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.20. The company had revenue of $100.28 million during the quarter, compared to the consensus estimate of $87.10 million. Innoviva had a return on equity of 18.67% and a net margin of 10.44%. As a group, sell-side analysts forecast that Innoviva will post 0.33 earnings per share for the current year.

Institutional Trading of Innoviva

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Systematic Financial Management LP raised its stake in shares of Innoviva by 2.1% during the 1st quarter. Systematic Financial Management LP now owns 2,071,253 shares of the biotechnology company’s stock valued at $37,552,000 after purchasing an additional 42,184 shares during the period. American Century Companies Inc. raised its stake in shares of Innoviva by 23.3% during the 2nd quarter. American Century Companies Inc. now owns 2,066,753 shares of the biotechnology company’s stock valued at $41,521,000 after purchasing an additional 391,056 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Innoviva by 85.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,708,482 shares of the biotechnology company’s stock valued at $34,323,000 after purchasing an additional 786,409 shares during the period. Millennium Management LLC raised its stake in shares of Innoviva by 318.4% during the 1st quarter. Millennium Management LLC now owns 1,676,057 shares of the biotechnology company’s stock valued at $30,387,000 after purchasing an additional 1,275,444 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Innoviva by 10.9% during the 2nd quarter. Bank of America Corp DE now owns 1,545,249 shares of the biotechnology company’s stock valued at $31,044,000 after purchasing an additional 151,957 shares during the period. 99.12% of the stock is currently owned by institutional investors.

About Innoviva

(Get Free Report)

Innoviva, Inc engages in the development and commercialization of pharmaceutical products in the United States and internationally. The company’s products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a LABA, vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate; ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA) and umeclidinium bromide (UMEC) with a LABA, VI; GIAPREZA (angiotensin II), a vasoconstrictor to increase blood pressure in adults with septic or other distributive shock; XERAVA (eravacycline) for the treatment of complicated intra-abdominal infections in adults; and XACDURO, a beta lactamase inhibitor for the treatment of hospital-acquired bacterial pneumonia and ventilator-associated bacterial pneumonia.

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