Innoviva, Inc. (NASDAQ:INVA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Innoviva, Inc. (NASDAQ:INVA) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $37.60.

Several analysts have issued reports on INVA shares. The Goldman Sachs Group assumed coverage on Innoviva in a report on Tuesday, September 30th. They set a “sell” rating and a $17.00 price objective on the stock. Cantor Fitzgerald assumed coverage on shares of Innoviva in a report on Friday, July 11th. They set an “overweight” rating and a $26.00 price target on the stock. Oppenheimer assumed coverage on shares of Innoviva in a research report on Monday, August 11th. They issued an “outperform” rating and a $45.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Innoviva in a research note on Saturday, September 27th. Finally, HC Wainwright boosted their target price on shares of Innoviva from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, August 11th.

Institutional Investors Weigh In On Innoviva

Institutional investors have recently bought and sold shares of the business. Systematic Financial Management LP grew its stake in Innoviva by 2.1% during the 1st quarter. Systematic Financial Management LP now owns 2,071,253 shares of the biotechnology company’s stock valued at $37,552,000 after acquiring an additional 42,184 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Innoviva by 23.3% during the second quarter. American Century Companies Inc. now owns 2,066,753 shares of the biotechnology company’s stock worth $41,521,000 after purchasing an additional 391,056 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Innoviva by 85.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,708,482 shares of the biotechnology company’s stock valued at $34,323,000 after purchasing an additional 786,409 shares in the last quarter. Millennium Management LLC increased its stake in 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 buying an additional 1,275,444 shares during the period. Finally, Bank of America Corp DE increased its stake in Innoviva by 10.9% in the 2nd quarter. Bank of America Corp DE now owns 1,545,249 shares of the biotechnology company’s stock valued at $31,044,000 after buying an additional 151,957 shares during the period. 99.12% of the stock is currently owned by institutional investors and hedge funds.

Innoviva Price Performance

Shares of NASDAQ:INVA opened at $17.42 on Tuesday. The company has a market capitalization of $1.10 billion, a PE ratio of 56.20 and a beta of 0.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.44 and a current ratio of 2.64. The stock has a fifty day moving average of $19.44 and a 200-day moving average of $19.23. Innoviva has a one year low of $16.67 and a one year high of $22.00.

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

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.