Innoviva, Inc. (INVA) Receives Average Rating of “Hold” from Analysts
Shares of Innoviva, Inc. (NASDAQ:INVA) have been given a consensus rating of “Hold” by the six brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $12.33.
A number of equities research analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Innoviva from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Friday. ValuEngine raised shares of Innoviva from a “hold” rating to a “buy” rating in a research report on Monday. Stifel Nicolaus reissued a “hold” rating and issued a $15.00 price target on shares of Innoviva in a research report on Friday, July 28th. Zacks Investment Research raised shares of Innoviva from a “hold” rating to a “strong-buy” rating and set a $16.00 price target for the company in a research report on Monday, July 31st. Finally, Cowen and Company set a $16.00 price target on shares of Innoviva and gave the company a “buy” rating in a research report on Friday, July 28th.
Innoviva (NASDAQ INVA) traded down 2.58% during trading on Friday, hitting $14.37. The company had a trading volume of 168,896 shares. Innoviva has a 52-week low of $8.67 and a 52-week high of $14.87. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 18.08 and a beta of 2.60. The firm’s 50 day moving average is $13.64 and its 200-day moving average is $12.95.
Innoviva (NASDAQ:INVA) last announced its quarterly earnings results on Wednesday, July 26th. The biotechnology company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. Innoviva had a net margin of 52.56% and a negative return on equity of 27.37%. The firm had revenue of $58.60 million during the quarter, compared to analysts’ expectations of $50.53 million. During the same period in the previous year, the company earned $0.13 earnings per share. Innoviva’s quarterly revenue was up 80.3% compared to the same quarter last year. On average, equities analysts forecast that Innoviva will post $1.16 earnings per share for the current year.
Several large investors have recently made changes to their positions in INVA. Russell Investments Group Ltd. purchased a new stake in shares of Innoviva in the first quarter valued at about $688,000. Great West Life Assurance Co. Can raised its holdings in shares of Innoviva by 7.5% in the first quarter. Great West Life Assurance Co. Can now owns 107,310 shares of the biotechnology company’s stock valued at $1,482,000 after buying an additional 7,475 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Innoviva by 11.6% in the first quarter. BNP Paribas Arbitrage SA now owns 15,984 shares of the biotechnology company’s stock valued at $221,000 after buying an additional 1,656 shares during the last quarter. Comerica Bank raised its holdings in shares of Innoviva by 4.5% in the first quarter. Comerica Bank now owns 85,950 shares of the biotechnology company’s stock valued at $1,082,000 after buying an additional 3,673 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in shares of Innoviva by 47.8% in the first quarter. UBS Asset Management Americas Inc. now owns 39,134 shares of the biotechnology company’s stock valued at $541,000 after buying an additional 12,650 shares during the last quarter. 69.06% of the stock is owned by institutional investors and hedge funds.
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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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