Innoviva (NASDAQ:INVA) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Innoviva (NASDAQ:INVA) from a hold rating to a buy rating in a research report released on Wednesday.

Innoviva Trading Up 0.9 %

Shares of NASDAQ:INVA opened at $18.42 on Wednesday. The stock has a market capitalization of $1.15 billion, a PE ratio of 26.70 and a beta of 0.55. Innoviva has a 1 year low of $14.32 and a 1 year high of $21.28. The firm has a fifty day moving average price of $18.23 and a 200 day moving average price of $18.89. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.25). The business had revenue of $89.51 million during the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. Analysts expect that Innoviva will post 0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Innoviva

A number of hedge funds have recently bought and sold shares of INVA. Pacer Advisors Inc. boosted its holdings in Innoviva by 4.3% during the fourth quarter. Pacer Advisors Inc. now owns 2,932,113 shares of the biotechnology company’s stock valued at $50,872,000 after acquiring an additional 121,162 shares during the period. Systematic Financial Management LP boosted its holdings in Innoviva by 4.7% during the third quarter. Systematic Financial Management LP now owns 1,979,073 shares of the biotechnology company’s stock valued at $38,216,000 after acquiring an additional 89,633 shares during the period. Barclays PLC boosted its holdings in Innoviva by 254.2% during the third quarter. Barclays PLC now owns 100,594 shares of the biotechnology company’s stock valued at $1,942,000 after acquiring an additional 72,192 shares during the period. JPMorgan Chase & Co. boosted its holdings in Innoviva by 14.2% during the third quarter. JPMorgan Chase & Co. now owns 578,243 shares of the biotechnology company’s stock valued at $11,166,000 after acquiring an additional 72,039 shares during the period. Finally, AlphaQuest LLC bought a new stake in Innoviva during the fourth quarter valued at about $848,000. 99.12% of the stock is currently owned by institutional investors.

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.