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.

TRADEMARK VIOLATION WARNING: “Innoviva, Inc. (INVA) Given “Neutral” Rating at Stifel Nicolaus” was first published by American Banking News and is the property of of American Banking News. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright legislation. The correct version of this report can be viewed at https://www.americanbankingnews.com/2017/09/16/innoviva-inc-inva-given-neutral-rating-at-stifel-nicolaus.html.

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)).

Receive News & Ratings for Innoviva Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innoviva Inc. and related companies with MarketBeat.com's FREE daily email newsletter.