Innoviva, Inc. (INVA) Given “Neutral” Rating at Stifel Nicolaus
Innoviva, Inc. (NASDAQ:INVA)‘s stock had its “neutral” rating reiterated by analysts at Stifel Nicolaus in a note issued to investors on Friday.
Several other brokerages have also recently issued reports on INVA. Zacks Investment Research cut Innoviva from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Cowen and Company set a $16.00 price target on Innoviva and gave the company a “buy” rating in a research report on Friday, July 28th. ValuEngine cut Innoviva from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Robert W. Baird restated a “neutral” rating and issued a $13.00 price target (up previously from $11.00) on shares of Innoviva in a research report on Thursday, July 27th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Innoviva has an average rating of “Hold” and an average price target of $15.00.
Innoviva (INVA) traded down 1.28% during mid-day trading on Friday, reaching $13.87. The company’s stock had a trading volume of 1,951,604 shares. The stock’s 50 day moving average is $13.18 and its 200 day moving average is $12.78. Innoviva has a one year low of $8.67 and a one year high of $14.55. The firm has a market cap of $1.52 billion, a PE ratio of 17.45 and a beta of 2.58.
Innoviva (NASDAQ:INVA) last posted its earnings results on Wednesday, July 26th. The biotechnology company reported $0.30 EPS for the quarter, topping the Zacks’ 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 business had revenue of $58.60 million for the quarter, compared to analysts’ expectations of $50.53 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share. The business’s revenue was up 80.3% compared to the same quarter last year. On average, analysts anticipate that Innoviva will post $1.16 EPS for the current year.
A number of hedge funds have recently modified their holdings of INVA. Ameritas Investment Partners Inc. increased its position in Innoviva by 868.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,328 shares of the biotechnology company’s stock valued at $101,000 after acquiring an additional 6,571 shares during the period. Victory Capital Management Inc. acquired a new position in Innoviva in the 1st quarter valued at about $117,000. Cubist Systematic Strategies LLC increased its position in Innoviva by 37.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 13,005 shares of the biotechnology company’s stock valued at $166,000 after acquiring an additional 3,569 shares during the period. LS Investment Advisors LLC increased its position in Innoviva by 372.8% in the 1st quarter. LS Investment Advisors LLC now owns 13,900 shares of the biotechnology company’s stock valued at $192,000 after acquiring an additional 10,960 shares during the period. Finally, Profund Advisors LLC increased its position in Innoviva by 8.8% in the 2nd quarter. Profund Advisors LLC now owns 15,220 shares of the biotechnology company’s stock valued at $195,000 after acquiring an additional 1,227 shares during the period. Hedge funds and other institutional investors own 69.07% of the company’s stock.
Innoviva Company Profile
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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