Innoviva, Inc. (NASDAQ:INVA) Receives $38.80 Consensus PT from Brokerages

by · The Cerbat Gem

Innoviva, Inc. (NASDAQ:INVA – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $38.80.

INVA has been the subject of a number of recent research reports. The Goldman Sachs Group began coverage on shares of Innoviva in a research note on Tuesday, September 30th. They set a “sell” rating and a $17.00 price objective for the company. Wall Street Zen upgraded shares of Innoviva from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 25th. HC Wainwright increased their target price on Innoviva from $45.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Zacks Research cut shares of Innoviva from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 6th. Finally, Cantor Fitzgerald lifted their price objective on Innoviva from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, November 6th.

Check Out Our Latest Research Report on INVA

Innoviva Trading Down 0.7%

Shares of NASDAQ INVA opened at $19.44 on Thursday. Innoviva has a fifty-two week low of $16.52 and a fifty-two week high of $22.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 14.12 and a quick ratio of 13.33. The firm has a market capitalization of $1.45 billion, a P/E ratio of 14.19 and a beta of 0.44. The company’s 50 day simple moving average is $20.54 and its 200 day simple moving average is $19.55.

Innoviva (NASDAQ:INVA – Get Free Report) last released its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.62. Innoviva had a net margin of 32.78% and a return on equity of 28.17%. The business had revenue of $107.80 million for the quarter, compared to analyst estimates of $91.31 million. On average, analysts predict that Innoviva will post 0.33 EPS for the current year.

Institutional Investors Weigh In On Innoviva

Several institutional investors and hedge funds have recently made changes to their positions in INVA. SG Americas Securities LLC raised its holdings in shares of Innoviva by 4.3% during the fourth quarter. SG Americas Securities LLC now owns 51,176 shares of the biotechnology company’s stock valued at $1,023,000 after purchasing an additional 2,097 shares during the period. Oliver Luxxe Assets LLC purchased a new position in Innoviva in the fourth quarter valued at about $1,693,000. Danske Bank A S bought a new position in Innoviva during the third quarter valued at $55,000. Morningstar Investment Management LLC purchased a new stake in Innoviva in the 3rd quarter worth about $782,000. Finally, NewEdge Advisors LLC increased its stake in shares of Innoviva by 7.5% in the third quarter. NewEdge Advisors LLC now owns 20,085 shares of the biotechnology company’s stock worth $367,000 after purchasing an additional 1,407 shares in the last quarter. Institutional investors and hedge funds own 99.12% of the company’s stock.

About Innoviva

(Get Free Report)

Innoviva, Inc, incorporated in Delaware and headquartered in San Francisco, California, is a royalty-focused life sciences company. It acquires, manages and monetizes royalty and license interests in biopharmaceutical products, with a primary emphasis on inhaled respiratory therapies. Innoviva’s portfolio is anchored by royalties on therapies originally developed by its former affiliate, now marketed by GlaxoSmithKline, including several long-acting inhaled products approved for chronic obstructive pulmonary disease (COPD) and asthma.

The company was established through a spin‐out transaction in 2014, separating the royalty assets from a research‐based biopharmaceutical enterprise to create a specialized investment vehicle.

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