Innoviva, Inc. (NASDAQ:INVA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Innoviva, Inc. (NASDAQ:INVA) have earned an average rating of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $36.20.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Innoviva by 11.6% during the 4th quarter. Vanguard Group Inc. now owns 7,917,103 shares of the biotechnology company’s stock worth $158,263,000 after buying an additional 819,757 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Innoviva by 38.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,358,633 shares of the biotechnology company’s stock worth $43,045,000 after buying an additional 650,151 shares during the period. Boston Partners boosted its holdings in shares of Innoviva by 63.6% in the third quarter. Boston Partners now owns 1,431,601 shares of the biotechnology company’s stock worth $26,125,000 after buying an additional 556,517 shares during the period. Qube Research & Technologies Ltd increased its position in shares of Innoviva by 68.2% in the third quarter. Qube Research & Technologies Ltd now owns 1,023,534 shares of the biotechnology company’s stock worth $18,679,000 after acquiring an additional 414,889 shares in the last quarter. Finally, Royce & Associates LP increased its position in shares of Innoviva by 81.9% in the fourth quarter. Royce & Associates LP now owns 920,317 shares of the biotechnology company’s stock worth $18,397,000 after acquiring an additional 414,411 shares in the last quarter. Institutional investors own 99.12% of the company’s stock.

Innoviva Price Performance

INVA stock opened at $21.44 on Monday. The firm’s 50-day moving average is $22.26 and its two-hundred day moving average is $22.19. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 3.57 and a beta of 0.34. Innoviva has a 52 week low of $16.52 and a 52 week high of $25.15. 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 (NASDAQ:INVA) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. Innoviva had a net margin of 119.89% and a return on equity of 33.33%. The business had revenue of $97.99 million during the quarter, compared to analysts’ expectations of $101.57 million. On average, analysts forecast that Innoviva will post 2.2 earnings per share for the current fiscal 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.