INVA has been the topic of several other reports. ValuEngine lowered Innoviva from a buy rating to a hold rating in a research report on Friday, June 2nd. Zacks Investment Research lowered Innoviva from a hold rating to a sell rating in a research report on Monday, July 3rd. Cowen and Company set a $16.00 target price on Innoviva and gave the stock a buy rating in a research report on Friday, July 28th. Finally, Robert W. Baird reaffirmed a neutral rating and issued a $13.00 target price (up from $11.00) on shares of Innoviva in a research report on Thursday, July 27th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Innoviva currently has an average rating of Hold and an average price target of $15.00.
Innoviva (NASDAQ:INVA) traded down 1.28% during trading on Friday, hitting $13.87. The stock had a trading volume of 1,951,604 shares. Innoviva has a 12-month low of $8.67 and a 12-month high of $14.55. The company has a 50 day moving average of $13.18 and a 200-day moving average of $12.78. The company has a market cap of $1.52 billion, a P/E ratio of 17.45 and a beta of 2.58.
Innoviva (NASDAQ:INVA) last posted its quarterly earnings results on Wednesday, July 26th. The biotechnology company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.02. Innoviva had a negative return on equity of 27.37% and a net margin of 52.56%. The firm had revenue of $58.60 million for the quarter, compared to analyst estimates of $50.53 million. During the same period in the previous year, the firm earned $0.13 earnings per share. Innoviva’s quarterly revenue was up 80.3% on a year-over-year basis. On average, equities analysts predict that Innoviva will post $1.16 EPS for the current year.
A number of hedge funds have recently modified their holdings of INVA. BlackRock Inc. increased its position in Innoviva by 68,215.3% in the 1st quarter. BlackRock Inc. now owns 12,000,259 shares of the biotechnology company’s stock worth $165,964,000 after purchasing an additional 11,982,693 shares during the last quarter. FMR LLC increased its position in Innoviva by 5.3% in the 2nd quarter. FMR LLC now owns 16,017,256 shares of the biotechnology company’s stock worth $205,021,000 after purchasing an additional 802,605 shares during the last quarter. Marshall Wace North America L.P. increased its position in Innoviva by 3,296.8% in the 2nd quarter. Marshall Wace North America L.P. now owns 822,356 shares of the biotechnology company’s stock worth $10,691,000 after purchasing an additional 798,146 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Innoviva in the 1st quarter worth about $9,852,000. Finally, Dimensional Fund Advisors LP increased its position in Innoviva by 651.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 801,994 shares of the biotechnology company’s stock worth $10,266,000 after purchasing an additional 695,272 shares during the last quarter. 69.07% of the stock is currently owned by institutional investors.
Innoviva, Inc, formerly Theravance, Inc, is engaged in the development, commercialization and financial management of bio-pharmaceuticals. It focuses on the respiratory assets partnered with Glaxo Group Limited (GSK), including RELVAR/BREO ELLIPTA (fluticasone furoate (FF)/vilanterol (VI)) and ANORO ELLIPTA (umeclidinium bromide/vilanterol (UMEC/VI)).
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