Innoviva (NASDAQ:INVA) Rating Increased to Hold at Zacks Investment Research

Innoviva (NASDAQ:INVAGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Innoviva, Inc. is focused on the development, commercialization and financial management of bio-pharmaceuticals. The company’s portfolio of respiratory assets partnered with Glaxo Group Limited, including RELVAR(R)/BREO(R) ELLIPTA(R) and ANORO(R) ELLIPTA(R). Innoviva, Inc., formerly known as Theravance, Inc., is headquartered in South San Francisco, California. “

Other equities research analysts have also issued research reports about the stock. StockNews.com lowered shares of Innoviva from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Morgan Stanley increased their price objective on shares of Innoviva from $12.00 to $13.00 and gave the stock an “underweight” rating in a report on Tuesday, April 12th.

Shares of Innoviva stock opened at $15.30 on Wednesday. The stock has a market capitalization of $1.06 billion, a P/E ratio of 7.15 and a beta of 0.50. The company has a quick ratio of 54.02, a current ratio of 24.06 and a debt-to-equity ratio of 0.98. The company has a 50-day simple moving average of $18.29 and a 200 day simple moving average of $17.65. Innoviva has a 12-month low of $11.64 and a 12-month high of $20.71.

Innoviva (NASDAQ:INVAGet Rating) last issued its quarterly earnings data on Wednesday, February 9th. The biotechnology company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. Innoviva had a net margin of 47.30% and a return on equity of 49.31%. The firm had revenue of $107.68 million for the quarter. On average, equities analysts anticipate that Innoviva will post 1.88 earnings per share for the current year.

In related news, Director Innoviva, Inc. bought 5,385,208 shares of the company’s stock in a transaction on Thursday, March 31st. The shares were purchased at an average cost of $5.00 per share, for a total transaction of $26,926,040.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.89% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fieldpoint Private Securities LLC grew its stake in shares of Innoviva by 71.4% in the fourth quarter. Fieldpoint Private Securities LLC now owns 1,800 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 750 shares in the last quarter. Strs Ohio bought a new position in shares of Innoviva in the first quarter valued at $38,000. Royal Bank of Canada boosted its position in Innoviva by 660.0% during the second quarter. Royal Bank of Canada now owns 6,126 shares of the biotechnology company’s stock worth $82,000 after purchasing an additional 5,320 shares during the period. Advisor Group Holdings Inc. boosted its position in Innoviva by 12.4% during the first quarter. Advisor Group Holdings Inc. now owns 8,138 shares of the biotechnology company’s stock worth $153,000 after purchasing an additional 899 shares during the period. Finally, Rafferty Asset Management LLC bought a new position in Innoviva during the third quarter worth $172,000.

Innoviva Company Profile (Get Rating)

Innoviva, Inc engages in the development and commercialization of pharmaceuticals in the United States and internationally. Its 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), umeclidinium bromide (UMEC), with a LABA, and VI; and TRELEGY ELLIPTA, a once-daily combination medicine consisting of an ICS, LAMA, and LABA.

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