Eric Desparbes Sells 15,285 Shares of Innoviva, Inc. (INVA) Stock
Innoviva, Inc. (NASDAQ:INVA) CFO Eric Desparbes sold 15,285 shares of Innoviva stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $13.28, for a total value of $202,984.80. Following the sale, the chief financial officer now directly owns 337,027 shares of the company’s stock, valued at $4,475,718.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Innoviva, Inc. (NASDAQ INVA) traded down $0.16 during midday trading on Friday, reaching $13.26. The company’s stock had a trading volume of 302,432 shares, compared to its average volume of 1,049,057. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of -2.59. The company has a market cap of $1,449.56, a price-to-earnings ratio of 15.43 and a beta of 2.51. Innoviva, Inc. has a 1-year low of $10.07 and a 1-year high of $14.87.
Innoviva (NASDAQ:INVA) last issued its earnings results on Wednesday, October 25th. The biotechnology company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.13). The firm had revenue of $48.64 million for the quarter, compared to the consensus estimate of $57.18 million. Innoviva had a net margin of 52.91% and a negative return on equity of 33.55%. The company’s revenue for the quarter was up 46.0% on a year-over-year basis. During the same period last year, the firm earned $0.13 earnings per share. equities research analysts anticipate that Innoviva, Inc. will post 1.08 earnings per share for the current year.
INVA has been the subject of a number of research analyst reports. ValuEngine raised Innoviva from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research lowered Innoviva from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Cowen Inc set a $16.00 target price on Innoviva and gave the company a “buy” rating in a research report on Friday, July 28th. Robert W. Baird reaffirmed a “neutral” rating and set a $13.00 target price (up from $11.00) on shares of Innoviva in a research report on Thursday, July 27th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $15.00 target price on shares of Innoviva in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Innoviva has an average rating of “Hold” and an average price target of $13.50.
Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC raised its position in shares of Innoviva by 5.3% in the 2nd quarter. FMR LLC now owns 16,017,256 shares of the biotechnology company’s stock worth $205,021,000 after acquiring an additional 802,605 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Innoviva by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 7,459,616 shares of the biotechnology company’s stock worth $95,483,000 after acquiring an additional 226,969 shares in the last quarter. Sarissa Capital Management LP raised its position in shares of Innoviva by 3.2% in the 3rd quarter. Sarissa Capital Management LP now owns 3,600,705 shares of the biotechnology company’s stock worth $50,841,000 after acquiring an additional 110,000 shares in the last quarter. State Street Corp raised its position in shares of Innoviva by 14.7% in the 2nd quarter. State Street Corp now owns 2,717,255 shares of the biotechnology company’s stock worth $34,782,000 after acquiring an additional 348,584 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Innoviva by 11.3% in the 2nd quarter. Northern Trust Corp now owns 1,243,046 shares of the biotechnology company’s stock worth $15,911,000 after acquiring an additional 126,246 shares in the last quarter. 72.14% of the stock is owned by institutional investors and hedge funds.
Innoviva, Inc, formerly Theravance, Inc, is engaged in the development, commercialization and financial management of bio-pharmaceuticals. It focuses on the respiratory assets partnered with Glaxo Group Limited (GSK), including RELVAR/BREO ELLIPTA (fluticasone furoate (FF)/vilanterol (VI)) and ANORO ELLIPTA (umeclidinium bromide/vilanterol (UMEC/VI)).
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