Innoviva (NASDAQ:INVA) Hits New 1-Year High – Should You Buy?

Innoviva, Inc. (NASDAQ:INVA)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $21.26 and last traded at $21.12, with a volume of 431840 shares traded. The stock had previously closed at $20.12.

Wall Street Analyst Weigh In

A number of analysts have recently commented on INVA shares. StockNews.com cut Innoviva from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Innoviva in a research note on Tuesday, July 30th.

Innoviva Trading Up 2.6 %

The company has a current ratio of 1.79, a quick ratio of 11.40 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $1.29 billion, a P/E ratio of 29.16 and a beta of 0.57. The business has a 50 day moving average price of $19.63 and a 200 day moving average price of $17.87.

Innoviva (NASDAQ:INVA) last announced its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.25). Innoviva had a net margin of 18.31% and a return on equity of 20.84%. The company had revenue of $89.51 million during the quarter. Analysts anticipate that Innoviva, Inc. will post 0.5 EPS for the current year.

Hedge Funds Weigh In On Innoviva

Several institutional investors and hedge funds have recently modified their holdings of the business. Intech Investment Management LLC grew its position in shares of Innoviva by 28.8% in the 3rd quarter. Intech Investment Management LLC now owns 19,537 shares of the biotechnology company’s stock valued at $377,000 after purchasing an additional 4,367 shares during the period. Segall Bryant & Hamill LLC acquired a new position in Innoviva during the 3rd quarter worth approximately $715,000. Caprock Group LLC acquired a new position in Innoviva during the 3rd quarter worth approximately $229,000. Royce & Associates LP boosted its position in Innoviva by 30.1% during the 3rd quarter. Royce & Associates LP now owns 57,908 shares of the biotechnology company’s stock worth $1,118,000 after acquiring an additional 13,414 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Innoviva by 3.5% during the 3rd quarter. Victory Capital Management Inc. now owns 140,454 shares of the biotechnology company’s stock worth $2,712,000 after acquiring an additional 4,699 shares during the last quarter. 99.12% of the stock is currently owned by institutional investors and hedge funds.

Innoviva Company Profile

Innoviva, Inc engages in the development and commercialization of pharmaceutical products in the United States and internationally. The company’s 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) and umeclidinium bromide (UMEC) with a LABA, VI; GIAPREZA (angiotensin II), a vasoconstrictor to increase blood pressure in adults with septic or other distributive shock; XERAVA (eravacycline) for the treatment of complicated intra-abdominal infections in adults; and XACDURO, a beta lactamase inhibitor for the treatment of hospital-acquired bacterial pneumonia and ventilator-associated bacterial pneumonia.