Innoviva, Inc. (NASDAQ:INVA) Receives $37.60 Average Target Price from Brokerages

Shares of Innoviva, Inc. (NASDAQ:INVA) have been assigned an average rating of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $37.60.

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Innoviva from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Zacks Research raised shares of Innoviva from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 8th. The Goldman Sachs Group assumed coverage on shares of Innoviva in a research note on Tuesday, September 30th. They issued a “sell” rating and a $17.00 price objective for the company. Cantor Fitzgerald assumed coverage on shares of Innoviva in a research note on Friday, July 11th. They issued an “overweight” rating and a $26.00 price objective for the company. Finally, Oppenheimer assumed coverage on shares of Innoviva in a research note on Monday, August 11th. They issued an “outperform” rating and a $45.00 price objective for the company.

Innoviva Price Performance

Shares of NASDAQ:INVA opened at $17.72 on Friday. The company has a current ratio of 2.64, a quick ratio of 2.44 and a debt-to-equity ratio of 0.36. Innoviva has a 1 year low of $16.52 and a 1 year high of $22.00. The business has a fifty day simple moving average of $18.90 and a 200 day simple moving average of $19.21. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 57.16 and a beta of 0.40.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in Innoviva by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 305,476 shares of the biotechnology company’s stock worth $5,538,000 after acquiring an additional 7,700 shares during the period. GAMMA Investing LLC raised its holdings in Innoviva by 58.9% in the 2nd quarter. GAMMA Investing LLC now owns 7,146 shares of the biotechnology company’s stock worth $144,000 after acquiring an additional 2,648 shares during the period. US Bancorp DE raised its holdings in Innoviva by 356.0% in the 1st quarter. US Bancorp DE now owns 12,753 shares of the biotechnology company’s stock worth $231,000 after acquiring an additional 9,956 shares during the period. Ballentine Partners LLC bought a new position in Innoviva in the 2nd quarter worth $350,000. Finally, Nuveen LLC bought a new position in Innoviva in the 1st quarter worth $7,307,000. Institutional investors own 99.12% of the company’s stock.

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.