Innoviva, Inc. (NASDAQ:INVA)‘s stock had its “hold” rating restated by analysts at Robert W. Baird in a research report issued to clients and investors on Tuesday. They currently have a $13.00 price objective on the biotechnology company’s stock. Robert W. Baird’s price objective would suggest a potential downside of 6.41% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. Cowen and Company set a $16.00 price objective on shares of Innoviva and gave the stock a “buy” rating in a research report on Monday. Morgan Stanley restated an “underweight” rating and set a $8.00 price objective (up previously from $7.00) on shares of Innoviva in a research report on Friday, October 6th. ValuEngine upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Stifel Nicolaus restated a “neutral” rating on shares of Innoviva in a research report on Friday, September 15th. Finally, Zacks Investment Research downgraded shares of Innoviva from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $13.60.

Shares of Innoviva (INVA) traded up 0.43% on Tuesday, reaching $13.89. 1,012,222 shares of the company’s stock were exchanged. The firm has a market capitalization of $1.52 billion, a P/E ratio of 17.47 and a beta of 2.60. The firm has a 50 day moving average of $13.96 and a 200 day moving average of $13.00. Innoviva has a one year low of $8.67 and a one year high of $14.87.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data on Wednesday, July 26th. The biotechnology company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.02. The business had revenue of $58.60 million during the quarter, compared to the consensus estimate of $50.53 million. Innoviva had a net margin of 52.56% and a negative return on equity of 27.37%. The company’s revenue was up 80.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 EPS. On average, equities research analysts predict that Innoviva will post $1.15 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This story was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The legal version of this story can be read at https://www.americanbankingnews.com/2017/10/24/robert-w-baird-reaffirms-hold-rating-for-innoviva-inc-inva.html.

A number of hedge funds have recently added to or reduced their stakes in INVA. Ameritas Investment Partners Inc. raised 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 purchasing an additional 6,571 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Innoviva in the 1st quarter valued at $117,000. Cubist Systematic Strategies LLC increased its stake 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 buying an additional 3,569 shares during the period. Profund Advisors LLC increased its stake 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 buying an additional 1,227 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in Innoviva by 79.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 15,327 shares of the biotechnology company’s stock valued at $196,000 after buying an additional 6,767 shares during the period. Hedge funds and other institutional investors own 69.72% 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.