Zacks Investment Research upgraded shares of Innoviva (NASDAQ:INVA) from a sell rating to a hold rating in a research note issued to investors on Tuesday, Zacks.com reports.
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 analysts have also weighed in on INVA. ValuEngine lowered Innoviva from a sell rating to a strong sell rating in a research report on Friday, July 26th. BidaskClub cut shares of Innoviva from a sell rating to a strong sell rating in a report on Wednesday, July 24th. Finally, TheStreet cut shares of Innoviva from a b- rating to a c+ rating in a report on Thursday, August 8th.
Shares of NASDAQ INVA opened at $11.40 on Tuesday. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 3.23 and a beta of 1.54. The company has a quick ratio of 42.50, a current ratio of 42.50 and a debt-to-equity ratio of 1.57. Innoviva has a 52-week low of $10.93 and a 52-week high of $20.54. The business’s 50 day moving average is $12.50 and its two-hundred day moving average is $13.90.
Innoviva (NASDAQ:INVA) last announced its earnings results on Wednesday, July 24th. The biotechnology company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.08). The firm had revenue of $64.11 million during the quarter. Innoviva had a net margin of 146.60% and a return on equity of 307.49%. Analysts anticipate that Innoviva will post 1.59 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of the company. United Services Automobile Association boosted its holdings in shares of Innoviva by 8.2% in the 2nd quarter. United Services Automobile Association now owns 19,841 shares of the biotechnology company’s stock valued at $289,000 after buying an additional 1,506 shares during the period. Zacks Investment Management acquired a new stake in shares of Innoviva in the 2nd quarter worth approximately $473,000. Nuveen Asset Management LLC acquired a new stake in shares of Innoviva in the 2nd quarter worth approximately $8,336,000. UBS Asset Management Americas Inc. lifted its stake in shares of Innoviva by 6.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 59,039 shares of the biotechnology company’s stock worth $860,000 after acquiring an additional 3,786 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Innoviva by 1,186.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 63,667 shares of the biotechnology company’s stock worth $927,000 after acquiring an additional 58,717 shares during the period. 75.48% of the stock is owned by institutional investors and hedge funds.
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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