Innoviva, Inc. (NASDAQ:INVA) issued its quarterly earnings results on Wednesday, October 25th. The biotechnology company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.13), Briefing.com reports. The business had revenue of $48.64 million for the quarter, compared to analysts’ expectations of $57.18 million. During the same quarter in the prior year, the firm earned $0.13 EPS. The company’s revenue was up 46.0% on a year-over-year basis.
Innoviva (NASDAQ:INVA) traded up $0.29 during midday trading on Friday, reaching $12.59. 837,800 shares of the company’s stock were exchanged, compared to its average volume of 1,058,773. The company has a quick ratio of 7.31, a current ratio of 6.71 and a debt-to-equity ratio of -2.59. The company has a market cap of $1,345.13, a P/E ratio of 14.14 and a beta of 2.51. Innoviva has a 52-week low of $10.07 and a 52-week high of $14.87.
INVA has been the topic of several recent research reports. Morgan Stanley reiterated an “underweight” rating and issued a $8.00 price target (up from $7.00) on shares of Innoviva in a research note on Friday, October 6th. Zacks Investment Research lowered shares of Innoviva from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Robert W. Baird restated a “hold” rating and set a $13.00 price objective on shares of Innoviva in a research note on Tuesday, October 24th. Cowen and Company set a $16.00 price objective on shares of Innoviva and gave the stock a “buy” rating in a research note on Monday, October 23rd. Finally, ValuEngine upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Innoviva presently has a consensus rating of “Hold” and a consensus price target of $13.60.
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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)).
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