Zacks Investment Research upgraded shares of Innoviva (NASDAQ:INVA) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday.
According to Zacks, “Innoviva, Inc. is focused on the development, commercialization and financial management of bio-pharmaceuticals. The company’s portfolio of respiratory assets partnered with Glaxo Group Limited, including RELVAR(R)/BREO(R) ELLIPTA(R) and ANORO(R) ELLIPTA(R). Innoviva, Inc., formerly known as Theravance, Inc., is headquartered in South San Francisco, California. “
A number of other equities analysts also recently weighed in on INVA. ValuEngine raised shares of Innoviva from a hold rating to a buy rating in a research note on Wednesday, March 7th. BidaskClub raised shares of Innoviva from a buy rating to a strong-buy rating in a research note on Saturday, March 24th. Berenberg Bank started coverage on shares of Innoviva in a research note on Thursday, April 19th. They set a buy rating for the company. Finally, Stifel Nicolaus lowered their target price on shares of Innoviva from $17.00 to $16.00 and set a hold rating for the company in a research note on Friday, April 27th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $13.67.
Shares of NASDAQ INVA opened at $13.80 on Tuesday. Innoviva has a twelve month low of $11.47 and a twelve month high of $17.99. The firm has a market cap of $1.40 billion, a P/E ratio of 10.27 and a beta of 2.11. The company has a quick ratio of 27.89, a current ratio of 27.89 and a debt-to-equity ratio of -2.28.
Innoviva (NASDAQ:INVA) last announced its earnings results on Thursday, April 26th. The biotechnology company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.23). Innoviva had a negative return on equity of 63.57% and a net margin of 64.11%. The firm had revenue of $52.40 million for the quarter, compared to the consensus estimate of $71.84 million. During the same period in the prior year, the business earned $0.19 EPS. Innoviva’s quarterly revenue was up 29.4% on a year-over-year basis.
In other news, VP George B. Abercrombie sold 8,000 shares of Innoviva stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $14.40, for a total transaction of $115,200.00. Following the completion of the transaction, the vice president now directly owns 305,235 shares in the company, valued at $4,395,384. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Eric Desparbes sold 5,808 shares of Innoviva stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $14.40, for a total transaction of $83,635.20. Following the transaction, the chief financial officer now owns 376,965 shares of the company’s stock, valued at $5,428,296. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of INVA. Schwab Charles Investment Management Inc. grew its holdings in shares of Innoviva by 20.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 418,450 shares of the biotechnology company’s stock valued at $5,938,000 after buying an additional 69,750 shares during the last quarter. Aperio Group LLC grew its holdings in shares of Innoviva by 24.0% during the fourth quarter. Aperio Group LLC now owns 24,852 shares of the biotechnology company’s stock valued at $353,000 after buying an additional 4,808 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Innoviva during the fourth quarter valued at about $373,000. First Trust Advisors LP grew its holdings in shares of Innoviva by 26.9% during the fourth quarter. First Trust Advisors LP now owns 96,260 shares of the biotechnology company’s stock valued at $1,366,000 after buying an additional 20,429 shares during the last quarter. Finally, Pinebridge Investments L.P. boosted its holdings in Innoviva by 283.5% during the fourth quarter. Pinebridge Investments L.P. now owns 35,390 shares of the biotechnology company’s stock worth $502,000 after purchasing an additional 26,162 shares during the last quarter. Hedge funds and other institutional investors own 74.62% of the company’s stock.
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).
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