Innoviva (INVA) Reaches New 12-Month High at $16.80
Innoviva Inc (NASDAQ:INVA) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $16.80 and last traded at $15.45, with a volume of 2270400 shares. The stock had previously closed at $15.45.
A number of research analysts have recently issued reports on INVA shares. TheStreet upgraded shares of Innoviva from a “c+” rating to a “b” rating in a research report on Friday, February 9th. Cowen set a $16.00 price objective on shares of Innoviva and gave the company a “buy” rating in a research report on Monday, October 23rd. Zacks Investment Research upgraded shares of Innoviva from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Wednesday, October 25th. BidaskClub upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Finally, Deutsche Bank began coverage on shares of Innoviva in a research report on Monday, November 20th. They issued a “hold” rating and a $13.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $13.83.
The firm has a market cap of $1,668.83, a PE ratio of 15.04 and a beta of 2.52. The company has a debt-to-equity ratio of -2.47, a quick ratio of 6.71 and a current ratio of 20.49.
In other Innoviva news, VP George B. Abercrombie sold 5,215 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $13.26, for a total transaction of $69,150.90. Following the sale, the vice president now directly owns 263,866 shares in the company, valued at approximately $3,498,863.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael W. Aguiar sold 12,022 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $13.13, for a total transaction of $157,848.86. Following the sale, the insider now owns 980,907 shares in the company, valued at $12,879,308.91. The disclosure for this sale can be found here. Insiders have sold a total of 32,522 shares of company stock worth $429,985 over the last 90 days. 1.60% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in INVA. Teachers Advisors LLC raised its position in shares of Innoviva by 17.5% during the 2nd quarter. Teachers Advisors LLC now owns 159,667 shares of the biotechnology company’s stock worth $2,044,000 after buying an additional 23,819 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Innoviva by 38.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 310,316 shares of the biotechnology company’s stock worth $3,972,000 after purchasing an additional 86,864 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Innoviva by 36.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 557,455 shares of the biotechnology company’s stock worth $7,135,000 after purchasing an additional 147,765 shares during the last quarter. Northern Trust Corp grew its stake 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 purchasing an additional 126,246 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake 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 purchasing an additional 226,969 shares during the last quarter. Institutional investors own 74.22% of the company’s stock.
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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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