Innoviva, Inc. (INVA) Upgraded to “Buy” by ValuEngine
ValuEngine upgraded shares of Innoviva, Inc. (NASDAQ:INVA) from a hold rating to a buy rating in a research report released on Monday morning.
Other analysts also recently issued research reports about the company. Zacks Investment Research downgraded Innoviva from a strong-buy rating to a hold rating in a research note on Wednesday, August 16th. Cowen and Company 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 reiterated 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 reissued a hold rating and issued a $15.00 target price on shares of Innoviva in a report on Friday, July 28th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $15.00.
Shares of Innoviva (NASDAQ INVA) traded up 0.21% during trading on Monday, hitting $14.52. The company had a trading volume of 84,900 shares. Innoviva has a 52 week low of $8.67 and a 52 week high of $14.87. The firm’s 50 day moving average is $13.48 and its 200-day moving average is $12.92. The stock has a market capitalization of $1.59 billion, a P/E ratio of 18.26 and a beta of 2.60.
Innoviva (NASDAQ:INVA) last announced its quarterly earnings results on Wednesday, July 26th. The biotechnology company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. Innoviva had a negative return on equity of 27.37% and a net margin of 52.56%. The company had revenue of $58.60 million during the quarter, compared to analyst estimates of $50.53 million. During the same period in the prior year, the company earned $0.13 earnings per share. The firm’s revenue was up 80.3% on a year-over-year basis. Equities research analysts anticipate that Innoviva will post $1.16 EPS for the current fiscal year.
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Innoviva by 68,215.3% in the first quarter. BlackRock Inc. now owns 12,000,259 shares of the biotechnology company’s stock worth $165,964,000 after acquiring an additional 11,982,693 shares in the last quarter. Comerica Bank increased its stake in Innoviva by 4.5% during the first quarter. Comerica Bank now owns 85,950 shares of the biotechnology company’s stock worth $1,082,000 after acquiring an additional 3,673 shares during the last quarter. Morgan Stanley increased its stake in Innoviva by 92.2% during the first quarter. Morgan Stanley now owns 564,427 shares of the biotechnology company’s stock worth $7,807,000 after acquiring an additional 270,824 shares during the last quarter. KCG Holdings Inc. increased its stake in Innoviva by 63.9% during the first quarter. KCG Holdings Inc. now owns 30,265 shares of the biotechnology company’s stock worth $419,000 after acquiring an additional 11,802 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in Innoviva by 3.4% during the first quarter. Teachers Advisors LLC now owns 135,848 shares of the biotechnology company’s stock valued at $1,879,000 after purchasing an additional 4,452 shares during the period. 69.06% of the stock is owned by hedge funds and other institutional investors.
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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