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

Innoviva, Inc. (NASDAQ:INVA) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $34.75.

A number of research analysts have recently commented on the company. Wall Street Zen lowered Innoviva from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Zacks Research upgraded Innoviva from a “strong sell” rating to a “hold” rating in a report on Monday, August 31st. HC Wainwright reissued a “buy” rating and issued a $46.00 price target on shares of Innoviva in a research report on Monday, June 1st. Weiss Ratings raised shares of Innoviva from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, September 9th. Finally, Cantor Fitzgerald reduced their price objective on shares of Innoviva from $36.00 to $34.00 and set an “overweight” rating for the company in a research note on Friday, August 7th.

Innoviva Trading Down 0.5%

Innoviva stock opened at $21.04 on Tuesday. Innoviva has a one year low of $16.52 and a one year high of $25.15. The company’s fifty day moving average price is $21.15 and its two-hundred day moving average price is $22.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 16.01 and a quick ratio of 15.18. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 5.13 and a beta of 0.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of INVA. Integrated Wealth Concepts LLC boosted its holdings in Innoviva by 8.0% during the second quarter. Integrated Wealth Concepts LLC now owns 178,507 shares of the biotechnology company’s stock valued at $4,054,000 after acquiring an additional 13,293 shares during the period. NewEdge Advisors LLC lifted its position in shares of Innoviva by 3.2% during the 2nd quarter. NewEdge Advisors LLC now owns 33,695 shares of the biotechnology company’s stock worth $765,000 after purchasing an additional 1,048 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Innoviva during the 2nd quarter valued at approximately $441,000. Baird Financial Group Inc. bought a new stake in Innoviva during the 2nd quarter valued at approximately $6,231,000. Finally, Allworth Financial LP grew its holdings in Innoviva by 43.7% in the 2nd quarter. Allworth Financial LP now owns 1,868 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 568 shares during the last quarter. Institutional investors and hedge funds own 99.12% of the company’s stock.

About Innoviva

Innoviva, Inc is a biopharmaceutical company focused on developing and commercializing healthcare products through strategic partnerships, royalty arrangements and investments in biotechnology businesses. The company’s portfolio has historically centered on respiratory medicines, with rights connected to products developed with GlaxoSmithKline, including Trelegy Ellipta, Anoro Ellipta and Breo Ellipta.

Innoviva generally operates as an asset-focused healthcare company rather than as a traditional commercial pharmaceutical manufacturer.