Innoviva (NASDAQ:INVA) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Innoviva (NASDAQ:INVA – Free Report) from a buy rating to a strong-buy rating in a research report report published on Monday morning.

INVA has been the topic of several other reports. Cantor Fitzgerald initiated coverage on Innoviva in a report on Friday, July 11th. They set an “overweight” rating and a $26.00 price objective on the stock. Oppenheimer initiated coverage on Innoviva in a research note on Monday, August 11th. They set an “outperform” rating and a $45.00 price target on the stock. Finally, HC Wainwright upped their price objective on shares of Innoviva from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $42.75.

Read Our Latest Stock Analysis on INVA

Innoviva Trading Up 0.1%

NASDAQ INVA opened at $20.90 on Monday. The stock has a market cap of $1.32 billion, a PE ratio of 67.42 and a beta of 0.47. Innoviva has a 12 month low of $16.67 and a 12 month high of $22.00. The company’s 50-day moving average price is $19.56 and its 200-day moving average price is $18.98. The company has a current ratio of 2.64, a quick ratio of 2.44 and a debt-to-equity ratio of 0.36.

Innoviva (NASDAQ:INVA – Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.20. Innoviva had a net margin of 10.44% and a return on equity of 18.67%. The company had revenue of $100.28 million during the quarter, compared to analyst estimates of $87.10 million. Equities research analysts forecast that Innoviva will post 0.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of INVA. Systematic Financial Management LP lifted its position in Innoviva by 2.1% during the first quarter. Systematic Financial Management LP now owns 2,071,253 shares of the biotechnology company’s stock valued at $37,552,000 after acquiring an additional 42,184 shares during the last quarter. American Century Companies Inc. increased its position in shares of Innoviva by 23.3% during the second quarter. American Century Companies Inc. now owns 2,066,753 shares of the biotechnology company’s stock worth $41,521,000 after purchasing an additional 391,056 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Innoviva by 85.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,708,482 shares of the biotechnology company’s stock valued at $34,323,000 after purchasing an additional 786,409 shares during the last quarter. Millennium Management LLC boosted its position in shares of Innoviva by 318.4% in the 1st quarter. Millennium Management LLC now owns 1,676,057 shares of the biotechnology company’s stock worth $30,387,000 after purchasing an additional 1,275,444 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Innoviva by 10.9% during the 2nd quarter. Bank of America Corp DE now owns 1,545,249 shares of the biotechnology company’s stock worth $31,044,000 after buying an additional 151,957 shares during the last quarter. Institutional investors own 99.12% of the company’s stock.

About Innoviva

(Get Free Report)

Innoviva, Inc engages in the development and commercialization of pharmaceutical products in the United States and internationally. The company’s products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a LABA, vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate; ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA) and umeclidinium bromide (UMEC) with a LABA, VI; GIAPREZA (angiotensin II), a vasoconstrictor to increase blood pressure in adults with septic or other distributive shock; XERAVA (eravacycline) for the treatment of complicated intra-abdominal infections in adults; and XACDURO, a beta lactamase inhibitor for the treatment of hospital-acquired bacterial pneumonia and ventilator-associated bacterial pneumonia.

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