Innoviva (NASDAQ:INVA – Get Rating) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.
A number of other research firms have also recently commented on INVA. Morgan Stanley upped their price target on shares of Innoviva from $12.00 to $13.00 and gave the stock an “underweight” rating in a report on Tuesday, April 12th. The Goldman Sachs Group started coverage on shares of Innoviva in a report on Wednesday, July 20th. They set a “neutral” rating on the stock.
Innoviva Trading Down 3.0 %
NASDAQ INVA opened at $14.24 on Friday. The company’s 50-day moving average price is $14.88 and its 200-day moving average price is $16.77. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 0.80. The stock has a market cap of $990.62 million, a PE ratio of 6.65 and a beta of 0.50. Innoviva has a 12 month low of $13.64 and a 12 month high of $20.71.
Innoviva (NASDAQ:INVA – Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The biotechnology company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $90.06 million for the quarter, compared to analysts’ expectations of $51.13 million. Innoviva had a net margin of 47.30% and a return on equity of 49.31%. Equities research analysts forecast that Innoviva will post 1.64 earnings per share for the current year.
Institutional Trading of Innoviva
Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Innoviva by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 6,823,390 shares of the biotechnology company’s stock worth $132,032,000 after buying an additional 23,195 shares during the period. LSV Asset Management grew its stake in shares of Innoviva by 0.5% during the 1st quarter. LSV Asset Management now owns 3,266,478 shares of the biotechnology company’s stock worth $63,206,000 after purchasing an additional 14,900 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Innoviva by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,540,394 shares of the biotechnology company’s stock worth $49,156,000 after purchasing an additional 7,052 shares during the period. Nomura Holdings Inc. grew its stake in shares of Innoviva by 27.9% during the 1st quarter. Nomura Holdings Inc. now owns 2,102,018 shares of the biotechnology company’s stock worth $41,510,000 after purchasing an additional 458,966 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Innoviva by 81.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,002,894 shares of the biotechnology company’s stock worth $29,563,000 after purchasing an additional 901,792 shares during the period.
About Innoviva
Innoviva, Inc engages in the development and commercialization of pharmaceuticals in the United States and internationally. Its products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a LABA, vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate; 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.