HC Wainwright Issues Positive Forecast for Innoviva (NASDAQ:INVA) Stock Price

Innoviva (NASDAQ:INVA) had its price target increased by HC Wainwright from $40.00 to $45.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

A number of other brokerages also recently commented on INVA. Oppenheimer started coverage on shares of Innoviva in a research note on Monday. They issued an “outperform” rating and a $45.00 price objective for the company. Wall Street Zen raised Innoviva from a “hold” rating to a “buy” rating in a research report on Wednesday, April 30th. Finally, Cantor Fitzgerald started coverage on Innoviva in a research report on Friday, July 11th. They set an “overweight” rating and a $26.00 price target on the stock. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $42.75.

Innoviva Stock Performance

Shares of NASDAQ:INVA opened at $19.64 on Monday. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 63.36 and a beta of 0.38. Innoviva has a 52 week low of $16.67 and a 52 week high of $22.00. The company has a quick ratio of 2.44, a current ratio of 2.64 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $19.86 and a 200 day moving average of $18.75.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported $0.77 EPS for the quarter, topping 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 net margin of 10.44% and a return on equity of 18.67%. On average, sell-side analysts predict that Innoviva will post 0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Innoviva

A number of large investors have recently made changes to their positions in INVA. Intech Investment Management LLC grew its holdings in shares of Innoviva by 13.3% during the second quarter. Intech Investment Management LLC now owns 46,700 shares of the biotechnology company’s stock valued at $938,000 after buying an additional 5,500 shares during the last quarter. Creative Planning grew its holdings in shares of Innoviva by 121.8% during the second quarter. Creative Planning now owns 60,904 shares of the biotechnology company’s stock valued at $1,224,000 after buying an additional 33,448 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Innoviva by 7.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,183 shares of the biotechnology company’s stock valued at $285,000 after buying an additional 1,000 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of Innoviva by 22.4% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 14,941 shares of the biotechnology company’s stock valued at $300,000 after buying an additional 2,738 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Innoviva by 7.2% during the second quarter. Geode Capital Management LLC now owns 1,522,622 shares of the biotechnology company’s stock valued at $30,593,000 after buying an additional 102,194 shares during the last quarter. 99.12% of the stock is owned by institutional investors and hedge funds.

About Innoviva

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.