Innoviva (NASDAQ:INVA) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Innoviva (NASDAQ:INVAGet Rating) from a sell rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

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. “

A number of other analysts also recently issued reports on INVA. StockNews.com downgraded Innoviva from a buy rating to a hold rating in a report on Monday, May 2nd. Morgan Stanley lifted their price target on Innoviva from $12.00 to $13.00 and gave the stock an underweight rating in a report on Tuesday, April 12th.

Shares of NASDAQ INVA opened at $15.86 on Wednesday. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 7.41 and a beta of 0.50. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.91 and a quick ratio of 2.91. The business has a 50-day moving average of $18.17 and a two-hundred day moving average of $17.62. Innoviva has a 1 year low of $11.90 and a 1 year high of $20.71.

Innoviva (NASDAQ:INVAGet Rating) last announced its quarterly earnings results on Wednesday, February 9th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. The company had revenue of $107.68 million during the quarter. Innoviva had a return on equity of 49.31% and a net margin of 47.30%. As a group, equities research analysts expect that Innoviva will post 1.8 earnings per share for the current year.

In other news, Director Innoviva, Inc. bought 5,385,208 shares of Innoviva stock in a transaction dated Thursday, March 31st. The stock was acquired at an average cost of $5.00 per share, with a total value of $26,926,040.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.89% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the company. Exchange Traded Concepts LLC raised its stake in Innoviva by 1.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 37,903 shares of the biotechnology company’s stock valued at $654,000 after acquiring an additional 687 shares during the last quarter. Fieldpoint Private Securities LLC raised its stake in Innoviva by 71.4% during the 4th quarter. Fieldpoint Private Securities LLC now owns 1,800 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 750 shares during the last quarter. Teacher Retirement System of Texas raised its stake in Innoviva by 7.2% during the 1st quarter. Teacher Retirement System of Texas now owns 12,998 shares of the biotechnology company’s stock valued at $252,000 after acquiring an additional 868 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in Innoviva by 12.4% during the 1st quarter. Advisor Group Holdings Inc. now owns 8,138 shares of the biotechnology company’s stock valued at $153,000 after acquiring an additional 899 shares during the last quarter. Finally, Comerica Bank raised its stake in Innoviva by 2.2% during the 1st quarter. Comerica Bank now owns 55,838 shares of the biotechnology company’s stock valued at $1,021,000 after acquiring an additional 1,198 shares during the last quarter.

Innoviva Company Profile (Get Rating)

Innoviva, Inc engages in the development and commercialization of pharmaceuticals in the United States and internationally. Its products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a LABA, vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate; ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA), umeclidinium bromide (UMEC), with a LABA, and VI; and TRELEGY ELLIPTA, a once-daily combination medicine consisting of an ICS, LAMA, and LABA.

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