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

Innoviva, Inc. (NASDAQ:INVA) has earned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $38.1667.

Several analysts have issued reports on the company. BTIG Research reissued a “buy” rating and issued a $35.00 price target on shares of Innoviva in a research note on Thursday, February 26th. Cantor Fitzgerald lifted their target price on Innoviva from $29.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. HC Wainwright boosted their target price on Innoviva from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Innoviva in a research note on Monday, December 29th. Finally, Zacks Research downgraded shares of Innoviva from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th.

Innoviva Stock Performance

Shares of INVA opened at $22.30 on Friday. The firm has a market cap of $1.67 billion, a P/E ratio of 7.31 and a beta of 0.42. Innoviva has a twelve month low of $16.52 and a twelve month high of $25.15. The company has a debt-to-equity ratio of 0.22, a quick ratio of 13.85 and a current ratio of 14.64. The firm’s 50 day moving average price is $20.98 and its two-hundred day moving average price is $20.10.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data on Wednesday, February 25th. The biotechnology company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $1.60. The business had revenue of $114.61 million for the quarter, compared to analyst estimates of $102.62 million. Innoviva had a net margin of 65.92% and a return on equity of 37.63%. On average, analysts forecast that Innoviva will post 0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Innoviva

Several hedge funds have recently modified their holdings of INVA. Creative Planning increased its stake in shares of Innoviva by 0.8% in the 3rd quarter. Creative Planning now owns 61,365 shares of the biotechnology company’s stock valued at $1,120,000 after purchasing an additional 461 shares during the last quarter. Bailard Inc. lifted its position in shares of Innoviva by 4.7% during the 4th quarter. Bailard Inc. now owns 10,933 shares of the biotechnology company’s stock worth $219,000 after buying an additional 492 shares during the last quarter. Verition Fund Management LLC boosted its stake in Innoviva by 0.3% in the third quarter. Verition Fund Management LLC now owns 175,855 shares of the biotechnology company’s stock valued at $3,209,000 after buying an additional 527 shares in the last quarter. Bank of Montreal Can grew its position in Innoviva by 3.8% in the fourth quarter. Bank of Montreal Can now owns 14,742 shares of the biotechnology company’s stock valued at $295,000 after acquiring an additional 540 shares during the last quarter. Finally, Vise Technologies Inc. grew its position in Innoviva by 6.1% in the third quarter. Vise Technologies Inc. now owns 12,581 shares of the biotechnology company’s stock valued at $230,000 after acquiring an additional 724 shares during the last quarter. Institutional investors own 99.12% of the company’s stock.

About Innoviva

Innoviva, Inc, incorporated in Delaware and headquartered in San Francisco, California, is a royalty-focused life sciences company. It acquires, manages and monetizes royalty and license interests in biopharmaceutical products, with a primary emphasis on inhaled respiratory therapies. Innoviva’s portfolio is anchored by royalties on therapies originally developed by its former affiliate, now marketed by GlaxoSmithKline, including several long-acting inhaled products approved for chronic obstructive pulmonary disease (COPD) and asthma.

The company was established through a spin‐out transaction in 2014, separating the royalty assets from a research‐based biopharmaceutical enterprise to create a specialized investment vehicle.