Innoviva, Inc. (NASDAQ:INVA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Innoviva, Inc. (NASDAQ:INVA) have been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $36.20.

INVA has been the topic of several research analyst reports. HC Wainwright reissued a “buy” rating and issued a $46.00 price objective on shares of Innoviva in a research report on Monday, June 1st. Wall Street Zen raised shares of Innoviva from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. BTIG Research reiterated a “buy” rating and issued a $42.00 price target on shares of Innoviva in a research note on Monday, June 22nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Innoviva in a report on Wednesday, June 24th.

Hedge Funds Weigh In On Innoviva

A number of large investors have recently made changes to their positions in INVA. Creative Planning grew its holdings in Innoviva by 0.8% in the 3rd quarter. Creative Planning now owns 61,365 shares of the biotechnology company’s stock valued at $1,120,000 after buying an additional 461 shares in the last quarter. Bailard Inc. lifted its holdings in shares of Innoviva by 4.7% during the fourth quarter. Bailard Inc. now owns 10,933 shares of the biotechnology company’s stock worth $219,000 after buying an additional 492 shares in the last quarter. Verition Fund Management LLC boosted its position in shares of Innoviva by 0.3% in the third quarter. Verition Fund Management LLC now owns 175,855 shares of the biotechnology company’s stock valued at $3,209,000 after acquiring an additional 527 shares during the period. Parallel Advisors LLC grew its stake in shares of Innoviva by 82.8% in the first quarter. Parallel Advisors LLC now owns 1,179 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 534 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in shares of Innoviva by 3.8% in the fourth quarter. Bank of Montreal Can now owns 14,742 shares of the biotechnology company’s stock valued at $295,000 after acquiring an additional 540 shares in the last quarter. Institutional investors own 99.12% of the company’s stock.

Innoviva Stock Performance

Shares of NASDAQ INVA opened at $22.43 on Thursday. The company has a current ratio of 21.13, a quick ratio of 20.07 and a debt-to-equity ratio of 0.19. Innoviva has a 12 month low of $16.52 and a 12 month high of $25.15. The stock has a 50 day moving average of $22.51 and a 200-day moving average of $22.03. The company has a market capitalization of $1.66 billion, a P/E ratio of 3.73 and a beta of 0.34.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Innoviva had a return on equity of 33.33% and a net margin of 119.89%.The business had revenue of $97.99 million for the quarter, compared to analysts’ expectations of $101.57 million. As a group, equities research analysts predict that Innoviva will post 2.2 EPS for the current year.

About Innoviva

Innoviva, Inc, incorporated in Delaware and headquartered in San Francisco, California, is a royalty-focused life sciences company. It acquires, manages and monetizes royalty and license interests in biopharmaceutical products, with a primary emphasis on inhaled respiratory therapies. Innoviva’s portfolio is anchored by royalties on therapies originally developed by its former affiliate, now marketed by GlaxoSmithKline, including several long-acting inhaled products approved for chronic obstructive pulmonary disease (COPD) and asthma.

The company was established through a spin?out transaction in 2014, separating the royalty assets from a research?based biopharmaceutical enterprise to create a specialized investment vehicle.