Innoviva (NASDAQ:INVA) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of Innoviva (NASDAQ:INVA) from a buy rating to a strong-buy rating in a research note issued to investors on Sunday.

INVA has been the subject of several other reports. Oppenheimer assumed coverage on shares of Innoviva in a report on Monday, August 11th. They issued an “outperform” rating and a $45.00 price objective for the company. Cantor Fitzgerald assumed coverage on Innoviva in a report on Friday, July 11th. They set an “overweight” rating and a $26.00 target price on the stock. Finally, HC Wainwright upped their target price on Innoviva from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, Innoviva has an average rating of “Buy” and a consensus price target of $42.75.

Innoviva Stock Up 0.3%

Shares of NASDAQ:INVA opened at $19.10 on Friday. Innoviva has a 52-week low of $16.67 and a 52-week high of $22.00. The firm has a fifty day moving average of $19.63 and a 200 day moving average of $19.16. The firm has a market capitalization of $1.20 billion, a PE ratio of 61.61 and a beta of 0.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.44 and a current ratio of 2.64.

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

Institutional Investors Weigh In On Innoviva

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its holdings in Innoviva by 157.5% in the second quarter. Parallel Advisors LLC now owns 1,849 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 1,131 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Innoviva in the second quarter worth approximately $43,000. EverSource Wealth Advisors LLC boosted its holdings in Innoviva by 297.7% in the second quarter. EverSource Wealth Advisors LLC now owns 2,398 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 1,795 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Innoviva in the first quarter worth approximately $56,000. Finally, Lazard Asset Management LLC purchased a new stake in Innoviva in the second quarter worth approximately $92,000. Hedge funds and other institutional investors 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.