Innoviva, Inc. (NASDAQ:INVA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Innoviva, Inc. (NASDAQ:INVA) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $38.60.

A number of brokerages have recently commented on INVA. Zacks Research lowered shares of Innoviva from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. HC Wainwright increased their price target on Innoviva from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, August 11th. The Goldman Sachs Group assumed coverage on Innoviva in a research note on Tuesday, September 30th. They issued a “sell” rating and a $17.00 price objective on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Innoviva in a report on Thursday, November 13th. Finally, Wall Street Zen upgraded shares of Innoviva from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 25th.

Innoviva Stock Performance

Shares of INVA stock opened at $21.87 on Wednesday. The business’s 50-day moving average price is $18.82 and its 200-day moving average price is $19.42. Innoviva has a 12 month low of $16.52 and a 12 month high of $22.76. 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 firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 70.55 and a beta of 0.42.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.62. Innoviva had a net margin of 10.44% and a return on equity of 18.67%. The business had revenue of $107.80 million during the quarter, compared to analyst estimates of $91.31 million. Equities research analysts forecast that Innoviva will post 0.33 EPS for the current year.

Hedge Funds Weigh In On Innoviva

Several hedge funds and other institutional investors have recently bought and sold shares of INVA. Millennium Management LLC lifted its stake in shares of Innoviva by 318.4% in 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. Marshall Wace LLP lifted its stake in Innoviva by 870.3% in the second quarter. Marshall Wace LLP now owns 1,332,966 shares of the biotechnology company’s stock valued at $26,779,000 after buying an additional 1,195,596 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings 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 worth $34,323,000 after buying an additional 786,409 shares in the last quarter. Boston Partners grew its position in shares of Innoviva by 63.6% during the 3rd quarter. Boston Partners now owns 1,431,601 shares of the biotechnology company’s stock worth $26,125,000 after buying an additional 556,517 shares during the period. Finally, Royce & Associates LP increased its stake in shares of Innoviva by 641.2% in the 3rd quarter. Royce & Associates LP now owns 505,906 shares of the biotechnology company’s stock valued at $9,233,000 after acquiring an additional 437,654 shares in the last quarter. Institutional investors and hedge funds own 99.12% of the company’s stock.

Innoviva Company Profile

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.