Innoviva (NASDAQ:INVA) Reaches New 52-Week High at $19.87

Shares of Innoviva, Inc. (NASDAQ:INVA) reached a new 52-week high on Friday . The company traded as high as $19.87 and last traded at $19.83, with a volume of 28830 shares changing hands. The stock had previously closed at $19.61.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. StockNews.com cut Innoviva from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 6th. Cantor Fitzgerald restated an “overweight” rating on shares of Innoviva in a research report on Tuesday, July 30th.

Innoviva Price Performance

The firm has a market cap of $1.24 billion, a P/E ratio of 8.91 and a beta of 0.57. The company has a current ratio of 12.70, a quick ratio of 11.40 and a debt-to-equity ratio of 0.67. The firm has a 50-day simple moving average of $18.28 and a 200-day simple moving average of $16.42.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings results on Wednesday, July 31st. The biotechnology company reported $0.68 EPS for the quarter. The company had revenue of $99.90 million during the quarter. Innoviva had a return on equity of 33.26% and a net margin of 44.00%. As a group, analysts forecast that Innoviva, Inc. will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in INVA. EdgeRock Capital LLC purchased a new stake in shares of Innoviva during the 2nd quarter valued at approximately $31,000. Bessemer Group Inc. boosted its holdings in Innoviva by 333.5% in the first quarter. Bessemer Group Inc. now owns 2,211 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 1,701 shares in the last quarter. Innealta Capital LLC purchased a new stake in Innoviva in the second quarter valued at $33,000. GAMMA Investing LLC grew its stake in Innoviva by 124.0% during the 1st quarter. GAMMA Investing LLC now owns 2,262 shares of the biotechnology company’s stock worth $34,000 after buying an additional 1,252 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Innoviva during the 1st quarter worth $138,000. 99.12% of the stock is owned by institutional investors and hedge funds.

About Innoviva

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.