Innoviva (NASDAQ:INVA) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Thursday.

A number of other equities analysts have also commented on the stock. ValuEngine lowered shares of Innoviva from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Stifel Nicolaus reissued a “neutral” rating on shares of Innoviva in a report on Friday, September 15th. Zacks Investment Research raised shares of Innoviva from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Wednesday, October 25th. Robert W. Baird reissued a “hold” rating and issued a $13.00 price target on shares of Innoviva in a report on Tuesday, October 24th. Finally, Deutsche Bank began coverage on shares of Innoviva in a research note on Monday, November 20th. They issued a “hold” rating and a $13.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $13.50.

Innoviva (INVA) opened at $14.02 on Thursday. The company has a market cap of $1,500.00, a price-to-earnings ratio of 15.74 and a beta of 2.53. Innoviva has a twelve month low of $10.29 and a twelve month high of $14.87. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of -2.59.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings results on Wednesday, October 25th. The biotechnology company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.13). The company had revenue of $48.64 million during the quarter, compared to the consensus estimate of $57.18 million. Innoviva had a negative return on equity of 33.55% and a net margin of 52.91%. Innoviva’s quarterly revenue was up 46.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 EPS. equities research analysts expect that Innoviva will post 1.07 earnings per share for the current fiscal year.

In other news, insider Michael W. Aguiar sold 12,022 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $13.13, for a total value of $157,848.86. Following the completion of the sale, the insider now owns 980,907 shares of the company’s stock, valued at approximately $12,879,308.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP George B. Abercrombie sold 5,215 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $13.26, for a total transaction of $69,150.90. Following the completion of the sale, the vice president now directly owns 263,866 shares of the company’s stock, valued at approximately $3,498,863.16. The disclosure for this sale can be found here. Insiders sold a total of 32,522 shares of company stock valued at $429,985 in the last ninety days. 1.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Sei Investments Co. boosted its position in Innoviva by 33,810.3% during the 3rd quarter. Sei Investments Co. now owns 9,834 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 9,805 shares during the period. Victory Capital Management Inc. boosted its position in Innoviva by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 9,967 shares of the biotechnology company’s stock valued at $128,000 after buying an additional 1,494 shares during the period. Jane Street Group LLC purchased a new stake in Innoviva during the 3rd quarter valued at $144,000. Macquarie Group Ltd. purchased a new stake in Innoviva during the 3rd quarter valued at $144,000. Finally, Magnetar Financial LLC purchased a new stake in Innoviva during the 3rd quarter valued at $182,000. 74.41% of the stock is owned by institutional investors and hedge funds.

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Innoviva Company Profile

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)).

Analyst Recommendations for Innoviva (NASDAQ:INVA)

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