Innoviva, Inc. (INVA) Receives Average Recommendation of “Hold” from Analysts
Shares of Innoviva, Inc. (NASDAQ:INVA) have earned an average rating of “Hold” from the six brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $12.33.
Several equities analysts have commented on INVA shares. ValuEngine upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research downgraded shares of Innoviva from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Cowen and Company set a $16.00 target price on shares of Innoviva and gave the stock a “buy” rating in a research note on Friday, July 28th. Robert W. Baird reiterated a “neutral” rating and set a $13.00 target price (up previously from $11.00) on shares of Innoviva in a research note on Thursday, July 27th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $15.00 target price on shares of Innoviva in a research note on Friday, July 28th.
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Shares of Innoviva (INVA) opened at 11.95 on Tuesday. Innoviva has a 12-month low of $8.67 and a 12-month high of $14.87. The firm has a 50 day moving average price of $13.74 and a 200 day moving average price of $12.94. The stock has a market cap of $1.31 billion, a PE ratio of 15.03 and a beta of 2.60.
Innoviva (NASDAQ:INVA) last posted its quarterly earnings results on Wednesday, October 25th. The biotechnology company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.13). The business had revenue of $48.64 million during the quarter, compared to analyst estimates of $57.18 million. Innoviva had a negative return on equity of 33.55% and a net margin of 52.91%. The business’s revenue was up 46.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.13 EPS. On average, equities analysts expect that Innoviva will post $1.13 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. purchased a new position in Innoviva during the first quarter worth about $117,000. Cubist Systematic Strategies LLC raised its holdings in Innoviva by 37.8% during the second quarter. Cubist Systematic Strategies LLC now owns 13,005 shares of the biotechnology company’s stock worth $166,000 after purchasing an additional 3,569 shares in the last quarter. Profund Advisors LLC raised its holdings in Innoviva by 8.8% during the second quarter. Profund Advisors LLC now owns 15,220 shares of the biotechnology company’s stock worth $195,000 after purchasing an additional 1,227 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Innoviva by 79.1% during the second quarter. State of Alaska Department of Revenue now owns 15,327 shares of the biotechnology company’s stock worth $196,000 after purchasing an additional 6,767 shares in the last quarter. Finally, TrimTabs Asset Management LLC purchased a new position in Innoviva during the second quarter worth about $206,000. 69.73% of the stock is owned by hedge funds and other institutional investors.
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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