Innoviva (INVA) Downgraded to Sell at BidaskClub

BidaskClub lowered shares of Innoviva (NASDAQ:INVA) from a hold rating to a sell rating in a research report report published on Tuesday morning, BidAskClub reports.

Several other equities research analysts have also weighed in on INVA. Zacks Investment Research lowered Innoviva from a buy rating to a hold rating in a report on Tuesday, January 8th. ValuEngine downgraded Innoviva from a hold rating to a sell rating in a research report on Wednesday, February 13th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $16.00.

INVA opened at $13.78 on Tuesday. Innoviva has a twelve month low of $13.26 and a twelve month high of $20.54. The company has a debt-to-equity ratio of 2.41, a current ratio of 34.92 and a quick ratio of 34.92. The company has a market capitalization of $1.39 billion, a P/E ratio of 3.90 and a beta of 1.85.

Innoviva (NASDAQ:INVA) last posted its earnings results on Wednesday, February 6th. The biotechnology company reported $2.34 earnings per share for the quarter. Innoviva had a negative return on equity of 508.18% and a net margin of 151.36%. The firm had revenue of $79.86 million during the quarter. Equities analysts expect that Innoviva will post 1.46 earnings per share for the current year.

In other Innoviva news, insider Geoffrey Hulme purchased 7,000 shares of the company’s stock in a transaction on Friday, February 15th. The shares were bought at an average cost of $14.80 per share, with a total value of $103,600.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director George Bickerstaff purchased 10,000 shares of the company’s stock in a transaction on Thursday, February 21st. The stock was acquired at an average cost of $14.90 per share, for a total transaction of $149,000.00. Following the completion of the transaction, the director now owns 38,762 shares in the company, valued at $577,553.80. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 32,000 shares of company stock worth $491,100. Company insiders own 0.18% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Oregon Public Employees Retirement Fund bought a new stake in shares of Innoviva during the fourth quarter valued at approximately $26,000. Financial Gravity Companies Inc. bought a new stake in shares of Innoviva during the fourth quarter valued at approximately $40,000. Fort L.P. bought a new stake in shares of Innoviva during the fourth quarter valued at approximately $90,000. Meeder Asset Management Inc. bought a new stake in shares of Innoviva during the first quarter valued at approximately $160,000. Finally, Quantamental Technologies LLC bought a new stake in shares of Innoviva during the fourth quarter valued at approximately $172,000. 79.09% of the stock is currently owned by institutional investors.

Innoviva Company Profile

Innoviva, Inc engages in the development and commercialization of pharmaceuticals. The company has long-acting beta2 agonist (LABA) collaboration agreement with Glaxo Group Limited to develop and commercialize once-daily products for the treatment of chronic obstructive pulmonary disease and asthma. Its products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a long-acting beta2 agonist (LABA), vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate (FF); ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA), umeclidinium bromide (UMEC), with a LABA, and VI; and TRELEGY ELLIPTA, a once-daily combination medicine consisting of an ICS, LAMA and LABA.

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