Innoviva, Inc. (NASDAQ:INVA) Receives $38.80 Consensus Target Price from Analysts

Shares of Innoviva, Inc. (NASDAQ:INVA) have received an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $38.80.

Several research firms recently commented on INVA. HC Wainwright boosted their price objective on shares of Innoviva from $45.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Wall Street Zen raised shares of Innoviva from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 25th. Zacks Research lowered shares of Innoviva from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 6th. Weiss Ratings restated a “buy (b)” rating on shares of Innoviva in a report on Monday, December 29th. Finally, Cantor Fitzgerald lifted their price target on shares of Innoviva from $29.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th.

Innoviva Stock Performance

Shares of NASDAQ:INVA opened at $19.58 on Thursday. Innoviva has a twelve month low of $16.52 and a twelve month high of $22.76. The business has a fifty day moving average of $20.51 and a 200-day moving average of $19.56. The firm has a market cap of $1.46 billion, a PE ratio of 14.29 and a beta of 0.44. The company has a debt-to-equity ratio of 0.25, a quick ratio of 13.33 and a current ratio of 14.12.

Innoviva (NASDAQ:INVA) last released its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.62. Innoviva had a return on equity of 28.17% and a net margin of 32.78%.The business had revenue of $107.80 million for the quarter, compared to analysts’ expectations of $91.31 million. On average, equities research analysts predict that Innoviva will post 0.33 EPS for the current fiscal year.

Institutional Trading of Innoviva

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC boosted its position in Innoviva by 4.3% during the fourth quarter. SG Americas Securities LLC now owns 51,176 shares of the biotechnology company’s stock valued at $1,023,000 after purchasing an additional 2,097 shares during the last quarter. Oliver Luxxe Assets LLC bought a new stake in shares of Innoviva during the 4th quarter worth approximately $1,693,000. Danske Bank A S acquired a new stake in shares of Innoviva in the 3rd quarter valued at approximately $55,000. Morningstar Investment Management LLC acquired a new stake in shares of Innoviva in the 3rd quarter valued at approximately $782,000. Finally, NewEdge Advisors LLC grew its stake in shares of Innoviva by 7.5% in the third quarter. NewEdge Advisors LLC now owns 20,085 shares of the biotechnology company’s stock valued at $367,000 after buying an additional 1,407 shares in the last quarter. Institutional investors own 99.12% of the company’s stock.

Innoviva Company Profile

Innoviva, Inc, incorporated in Delaware and headquartered in San Francisco, California, is a royalty-focused life sciences company. It acquires, manages and monetizes royalty and license interests in biopharmaceutical products, with a primary emphasis on inhaled respiratory therapies. Innoviva’s portfolio is anchored by royalties on therapies originally developed by its former affiliate, now marketed by GlaxoSmithKline, including several long-acting inhaled products approved for chronic obstructive pulmonary disease (COPD) and asthma.

The company was established through a spin?out transaction in 2014, separating the royalty assets from a research?based biopharmaceutical enterprise to create a specialized investment vehicle.