Innoviva, Inc. (INVA) – What Are Analysts Thinking About This Stock?

Innoviva, Inc. (NASDAQ:INVA) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $39.00.

A number of analysts have commented on the stock. Cantor Fitzgerald cut their price target on shares of Innoviva from $36.00 to $34.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Weiss Ratings upgraded Innoviva from a “hold (c+)” rating to a “buy (b)” rating in a report on Monday. Zacks Research raised Innoviva from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. Wall Street Zen lowered Innoviva from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Oppenheimer dropped their price objective on Innoviva from $35.00 to $34.00 and set an “outperform” rating on the stock in a research note on Thursday, November 5th.

Institutional Investors Weigh In On Innoviva

Several large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its holdings in shares of Innoviva by 5.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 9,014 shares of the biotechnology company’s stock worth $191,000 after buying an additional 482 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Innoviva by 82.8% in the 1st quarter. Parallel Advisors LLC now owns 1,179 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 534 shares in the last quarter. Allworth Financial LP increased its stake in shares of Innoviva by 43.7% in the 2nd quarter. Allworth Financial LP now owns 1,868 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 568 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Innoviva by 32.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the biotechnology company’s stock valued at $56,000 after acquiring an additional 637 shares in the last quarter. Finally, BOKF NA increased its stake in shares of Innoviva by 3.4% in the 3rd quarter. BOKF NA now owns 22,606 shares of the biotechnology company’s stock valued at $479,000 after acquiring an additional 743 shares in the last quarter. Institutional investors and hedge funds own 99.12% of the company’s stock.

Innoviva Price Performance

Innoviva stock opened at $19.08 on Wednesday. The stock’s 50 day moving average is $20.84 and its 200 day moving average is $21.86. Innoviva has a one year low of $18.70 and a one year high of $25.15. The firm has a market cap of $1.38 billion, a P/E ratio of 9.59, a P/E/G ratio of 4.15 and a beta of 0.38. The company has a debt-to-equity ratio of 0.23, a current ratio of 15.44 and a quick ratio of 14.58.

Innoviva (NASDAQ:INVA) last released its earnings results on Wednesday, November 4th. The biotechnology company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($1.55). The firm had revenue of $106.12 million for the quarter, compared to analyst estimates of $115.31 million. Innoviva had a net margin of 44.13% and a return on equity of 22.91%. As a group, research analysts expect that Innoviva will post 1.52 EPS for the current year.

Innoviva Company Profile

Innoviva, Inc. is a biopharmaceutical company with two main areas of activity: royalty interests in respiratory medicines developed with GSK and the development and commercialization of specialty medicines. Its respiratory-related royalties include products such as Trelegy Ellipta, Anoro Ellipta and Breo Ellipta, which are used to treat chronic obstructive pulmonary disease and asthma and are marketed by GSK. Through its specialty therapeutics operations, Innoviva focuses on medicines for serious infections and other acute-care conditions.