Innoviva (INVA) Downgraded to “Buy” at BidaskClub

BidaskClub lowered shares of Innoviva (NASDAQ:INVA) from a strong-buy rating to a buy rating in a research note released on Wednesday morning.

A number of other equities analysts also recently weighed in on INVA. Zacks Investment Research downgraded shares of Innoviva from a hold rating to a sell rating in a research note on Saturday, February 3rd. Stifel Nicolaus reissued a hold rating and set a $17.00 target price on shares of Innoviva in a research note on Friday, February 9th. TheStreet raised shares of Innoviva from a c+ rating to a b rating in a research note on Friday, February 9th. Finally, ValuEngine raised shares of Innoviva from a hold rating to a buy rating in a research note on Wednesday, March 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $14.17.

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Shares of NASDAQ INVA opened at $15.90 on Wednesday. Innoviva has a twelve month low of $11.02 and a twelve month high of $17.99. The firm has a market cap of $1,626.13, a P/E ratio of 13.59 and a beta of 2.17. The company has a quick ratio of 5.77, a current ratio of 5.77 and a debt-to-equity ratio of -2.37.

Innoviva (NASDAQ:INVA) last announced its earnings results on Thursday, February 8th. The biotechnology company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Innoviva had a net margin of 61.76% and a negative return on equity of 48.93%. The business had revenue of $69.52 million during the quarter, compared to the consensus estimate of $67.41 million. During the same quarter last year, the firm earned $0.22 earnings per share. Innoviva’s quarterly revenue was up 59.4% on a year-over-year basis. research analysts predict that Innoviva will post 2.26 EPS for the current fiscal year.

In other Innoviva news, VP George B. Abercrombie sold 8,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $16.51, for a total value of $132,080.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric Desparbes sold 5,378 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $16.52, for a total transaction of $88,844.56. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

A number of large investors have recently bought and sold shares of INVA. New York State Common Retirement Fund grew its holdings in Innoviva by 66.3% in the third quarter. New York State Common Retirement Fund now owns 130,047 shares of the biotechnology company’s stock worth $1,836,000 after purchasing an additional 51,847 shares during the period. Macquarie Group Ltd. acquired a new position in shares of Innoviva during the third quarter valued at about $144,000. JPMorgan Chase & Co. grew its holdings in shares of Innoviva by 1,379.9% during the third quarter. JPMorgan Chase & Co. now owns 780,546 shares of the biotechnology company’s stock valued at $10,896,000 after buying an additional 727,803 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Innoviva by 22.4% during the third quarter. Dimensional Fund Advisors LP now owns 981,854 shares of the biotechnology company’s stock valued at $13,864,000 after buying an additional 179,860 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in shares of Innoviva by 247.1% during the third quarter. Allianz Asset Management GmbH now owns 117,862 shares of the biotechnology company’s stock valued at $1,664,000 after buying an additional 83,910 shares during the last quarter. Institutional investors and hedge funds own 75.04% of the company’s stock.

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Innoviva Company Profile

Innoviva, Inc engages in the development and commercialization of bio-pharmaceuticals. Its portfolio of respiratory products include RELVAR/BREO ELLIPTA, (fluticasone furoate/ vilanterol, FF/VI); ANORO ELLIPTA (umeclidinium bromide/ vilanterol, UMEC/VI); and TRELEGY ELLIPTA (the combination FF/UMEC/VI).

Analyst Recommendations for Innoviva (NASDAQ:INVA)

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