Innoviva (NASDAQ:INVA) Given New $31.00 Price Target at Cantor Fitzgerald

by · The Markets Daily

Innoviva (NASDAQ:INVA – Free Report) had its target price hoisted by Cantor Fitzgerald from $29.00 to $31.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Other analysts have also recently issued research reports about the stock. Oppenheimer initiated coverage on shares of Innoviva in a research report on Monday, August 11th. They set an “outperform” rating and a $45.00 price target on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Innoviva in a research note on Wednesday, October 8th. Zacks Research raised shares of Innoviva from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Innoviva from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 25th. Finally, The Goldman Sachs Group started coverage on shares of Innoviva in a research report on Tuesday, September 30th. They set a “sell” rating and a $17.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.60.

View Our Latest Analysis on INVA

Innoviva Stock Performance

INVA traded up $0.28 during trading on Thursday, reaching $20.86. 1,108,026 shares of the company’s stock were exchanged, compared to its average volume of 810,345. The stock has a market capitalization of $1.31 billion, a P/E ratio of 67.29 and a beta of 0.42. The company’s fifty day simple moving average is $18.63 and its 200-day simple moving average is $19.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.64 and a quick ratio of 2.44. Innoviva has a 1 year low of $16.52 and a 1 year high of $22.00.

Innoviva (NASDAQ:INVA – Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.62. Innoviva had a return on equity of 18.67% and a net margin of 10.44%.The firm had revenue of $107.80 million during the quarter, compared to analyst estimates of $91.31 million. As a group, research analysts predict that Innoviva will post 0.33 earnings per share for the current fiscal year.

Institutional Trading of Innoviva

Large investors have recently bought and sold shares of the business. Principal Financial Group Inc. grew its position in Innoviva by 2.6% during the first quarter. Principal Financial Group Inc. now owns 305,476 shares of the biotechnology company’s stock worth $5,538,000 after buying an additional 7,700 shares during the period. GAMMA Investing LLC boosted its stake in shares of Innoviva by 58.9% during the 2nd quarter. GAMMA Investing LLC now owns 7,146 shares of the biotechnology company’s stock worth $144,000 after acquiring an additional 2,648 shares in the last quarter. Ballentine Partners LLC purchased a new stake in shares of Innoviva during the 2nd quarter worth approximately $350,000. US Bancorp DE grew its holdings in shares of Innoviva by 356.0% in the 1st quarter. US Bancorp DE now owns 12,753 shares of the biotechnology company’s stock worth $231,000 after acquiring an additional 9,956 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in Innoviva by 210.5% in the 2nd quarter. Allianz Asset Management GmbH now owns 82,282 shares of the biotechnology company’s stock valued at $1,653,000 after purchasing an additional 55,782 shares in the last quarter. Institutional investors and hedge funds own 99.12% of the company’s stock.

Innoviva Company Profile

(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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