Innoviva (NASDAQ:INVA) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Innoviva (NASDAQ:INVA) from a buy rating to a hold rating in a research report report published on Tuesday.

Innoviva Price Performance

Shares of Innoviva stock opened at $17.40 on Tuesday. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 25.22 and a beta of 0.53. The firm’s 50-day moving average price is $18.88 and its two-hundred day moving average price is $18.59. 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 has a 1-year low of $14.32 and a 1-year high of $21.28.

Innoviva (NASDAQ:INVA) last released 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 return on equity of 20.84% and a net margin of 18.31%. The business had revenue of $89.51 million for the quarter. On average, equities analysts predict that Innoviva will post 0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in INVA. American Century Companies Inc. increased its position in Innoviva by 369.6% in the 2nd quarter. American Century Companies Inc. now owns 459,690 shares of the biotechnology company’s stock valued at $7,539,000 after acquiring an additional 361,797 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Innoviva by 823.3% during the second quarter. Marshall Wace LLP now owns 204,752 shares of the biotechnology company’s stock valued at $3,358,000 after purchasing an additional 182,575 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Innoviva in the second quarter valued at approximately $2,198,000. Denali Advisors LLC raised its position in Innoviva by 34.9% in the 2nd quarter. Denali Advisors LLC now owns 439,786 shares of the biotechnology company’s stock worth $7,212,000 after purchasing an additional 113,700 shares during the last quarter. Finally, Systematic Financial Management LP raised its position in Innoviva by 4.7% in the 3rd quarter. Systematic Financial Management LP now owns 1,979,073 shares of the biotechnology company’s stock worth $38,216,000 after purchasing an additional 89,633 shares during the last quarter. 99.12% of the stock is owned by institutional investors.

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.