Innoviva (INVA) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Innoviva (NASDAQ:INVA) from a hold rating to a buy rating in a report released on Friday morning. Zacks Investment Research currently has $17.00 price target on the biotechnology company’s stock.

According to Zacks, “Innoviva, Inc. is focused on the development, commercialization and financial management of bio-pharmaceuticals. The company’s portfolio of respiratory assets partnered with Glaxo Group Limited, including RELVAR(R)/BREO(R) ELLIPTA(R) and ANORO(R) ELLIPTA(R). Innoviva, Inc., formerly known as Theravance, Inc., is headquartered in South San Francisco, California. “

Several other analysts have also weighed in on the stock. BidaskClub raised shares of Innoviva from a buy rating to a strong-buy rating in a report on Saturday, November 10th. ValuEngine raised shares of Innoviva from a sell rating to a hold rating in a report on Wednesday, October 17th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $16.50.



NASDAQ INVA opened at $15.39 on Friday. The company has a market cap of $1.55 billion, a PE ratio of 4.36 and a beta of 1.89. Innoviva has a 1-year low of $13.26 and a 1-year high of $20.54.

Several institutional investors have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. increased its holdings in shares of Innoviva by 15.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 248,358 shares of the biotechnology company’s stock valued at $4,302,000 after purchasing an additional 33,614 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Innoviva by 4,446.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 118,199 shares of the biotechnology company’s stock valued at $2,063,000 after purchasing an additional 115,599 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Innoviva by 186.8% in the fourth quarter. First Trust Advisors LP now owns 126,400 shares of the biotechnology company’s stock valued at $2,206,000 after purchasing an additional 82,335 shares in the last quarter. Prudential Financial Inc. increased its holdings in shares of Innoviva by 18.1% in the fourth quarter. Prudential Financial Inc. now owns 138,669 shares of the biotechnology company’s stock valued at $2,420,000 after purchasing an additional 21,269 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund acquired a new stake in shares of Innoviva in the fourth quarter valued at approximately $449,000. 75.77% of the stock is owned by institutional investors and hedge funds.

Innoviva Company Profile

Innoviva, Inc engages in the development and commercialization of bio-pharmaceuticals. Its portfolio of respiratory products include RELVAR/BREO ELLIPTA, (fluticasone furoate/ vilanterol, FF/VI); ANORO ELLIPTA (umeclidinium bromide/ vilanterol, UMEC/VI); and TRELEGY ELLIPTA (the combination FF/UMEC/VI).

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