Innoviva, Inc. (INVA) Rating Reiterated by Stifel Nicolaus
Innoviva, Inc. (NASDAQ:INVA)‘s stock had its “neutral” rating reissued by investment analysts at Stifel Nicolaus in a research note issued to investors on Friday.
INVA has been the subject of a number of other reports. ValuEngine lowered shares of Innoviva from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research lowered shares of Innoviva from a “hold” rating to a “sell” rating in a report on Monday, July 3rd. Cowen and Company set a $16.00 target price on shares of Innoviva and gave the company a “buy” rating in a report on Friday, July 28th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $13.00 target price (up from $11.00) on shares of Innoviva in a report on Thursday, July 27th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Innoviva currently has a consensus rating of “Hold” and an average target price of $15.00.
Shares of Innoviva (INVA) opened at 13.87 on Friday. Innoviva has a one year low of $8.67 and a one year high of $14.55. The stock has a 50 day moving average of $13.18 and a 200-day moving average of $12.78. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 17.45 and a beta of 2.58.
Innoviva (NASDAQ:INVA) last posted its earnings results on Wednesday, July 26th. The biotechnology company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. Innoviva had a net margin of 52.56% and a negative return on equity of 27.37%. The firm had revenue of $58.60 million during the quarter, compared to analyst estimates of $50.53 million. During the same period last year, the firm posted $0.13 earnings per share. Innoviva’s revenue for the quarter was up 80.3% compared to the same quarter last year. On average, equities analysts expect that Innoviva will post $1.16 earnings per share for the current year.
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Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Innoviva by 68,215.3% during the first quarter. BlackRock Inc. now owns 12,000,259 shares of the biotechnology company’s stock worth $165,964,000 after buying an additional 11,982,693 shares during the period. Comerica Bank boosted its stake in Innoviva by 4.5% during the first quarter. Comerica Bank now owns 85,950 shares of the biotechnology company’s stock worth $1,082,000 after buying an additional 3,673 shares during the period. Trexquant Investment LP purchased a new position in Innoviva during the first quarter worth $818,000. Morgan Stanley boosted its stake in Innoviva by 92.2% during the first quarter. Morgan Stanley now owns 564,427 shares of the biotechnology company’s stock worth $7,807,000 after buying an additional 270,824 shares during the period. Finally, KCG Holdings Inc. boosted its stake in Innoviva by 63.9% during the first quarter. KCG Holdings Inc. now owns 30,265 shares of the biotechnology company’s stock worth $419,000 after buying an additional 11,802 shares during the period. 69.07% of the stock is owned by institutional investors.
Innoviva, Inc, formerly Theravance, Inc, is engaged in the development, commercialization and financial management of bio-pharmaceuticals. It focuses on the respiratory assets partnered with Glaxo Group Limited (GSK), including RELVAR/BREO ELLIPTA (fluticasone furoate (FF)/vilanterol (VI)) and ANORO ELLIPTA (umeclidinium bromide/vilanterol (UMEC/VI)).
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