Eric Desparbes Sells 1,800 Shares of Innoviva Inc. (INVA) Stock
Innoviva Inc. (NASDAQ:INVA) CFO Eric Desparbes sold 1,800 shares of Innoviva stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $10.89, for a total transaction of $19,602.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Innoviva Inc. (NASDAQ:INVA) opened at 10.94 on Thursday. The stock has a market cap of $1.19 billion, a PE ratio of 31.99 and a beta of 2.17. The company’s 50-day moving average is $10.37 and its 200 day moving average is $11.16. Innoviva Inc. has a 52 week low of $7.56 and a 52 week high of $14.15.
Innoviva (NASDAQ:INVA) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $33.30 million for the quarter, compared to analysts’ expectations of $38.71 million. Innoviva had a net margin of 34.01% and a negative return on equity of 13.60%. The business’s revenue was up 145.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.04) EPS. On average, analysts expect that Innoviva Inc. will post $0.52 earnings per share for the current fiscal year.
Several analysts have commented on the stock. Zacks Investment Research lowered shares of Innoviva from a “buy” rating to a “hold” rating in a research report on Wednesday, September 14th. Robert W. Baird reaffirmed a “neutral” rating and issued a $11.00 price objective (up previously from $9.00) on shares of Innoviva in a research report on Sunday, July 31st. Cowen and Company raised shares of Innoviva from a “market perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a research report on Monday, October 31st. Finally, TheStreet raised shares of Innoviva from a “sell” rating to a “hold” rating in a research report on Thursday, July 28th.
Several hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Innoviva by 14.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 469,534 shares of the company’s stock worth $5,160,000 after buying an additional 59,600 shares during the last quarter. LPL Financial LLC bought a new stake in shares of Innoviva during the third quarter worth about $276,000. Mackenzie Financial Corp increased its stake in shares of Innoviva by 79.1% in the third quarter. Mackenzie Financial Corp now owns 27,754 shares of the company’s stock worth $305,000 after buying an additional 12,258 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Innoviva during the third quarter worth about $262,000. Finally, Highbridge Capital Management LLC increased its stake in shares of Innoviva by 258.6% in the third quarter. Highbridge Capital Management LLC now owns 124,304 shares of the company’s stock worth $1,366,000 after buying an additional 89,639 shares during the last quarter. 83.97% of the stock is currently owned by hedge funds and other institutional investors.
Innoviva Company Profile
Innoviva, Inc, formerly Theravance, Inc, focuses on bringing new medicines to patients in areas of unmet need. The Company is engaged in the development, commercialization and financial management of bio-pharmaceuticals. Its portfolio focuses on the respiratory assets partnered with Glaxo Group Limited (GSK), including RELVAR/BREO ELLIPTA (fluticasone furoate/vilanterol (FF/VI)) and ANORO ELLIPTA (umeclidinium bromide/vilanterol (UMEC/VI)).
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