Deutsche Bank AG began coverage on shares of Innoviva, Inc. (NASDAQ:INVA) in a report published on Monday, Marketbeat reports. The firm issued a hold rating and a $13.00 price target on the biotechnology company’s stock.

A number of other analysts also recently issued reports on the company. Zacks Investment Research downgraded Innoviva from a buy rating to a hold rating in a research report on Monday, October 30th. Robert W. Baird restated a hold rating and issued a $13.00 price target on shares of Innoviva in a research report on Tuesday, October 24th. Cowen and Company set a $16.00 price target on Innoviva and gave the stock a buy rating in a research report on Monday, October 23rd. Morgan Stanley reiterated an underweight rating and set a $8.00 target price (up from $7.00) on shares of Innoviva in a research report on Friday, October 6th. Finally, ValuEngine upgraded Innoviva from a hold rating to a buy rating in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $13.50.

Shares of Innoviva (NASDAQ:INVA) opened at $13.42 on Monday. The stock has a market capitalization of $1,448.48, a price-to-earnings ratio of 15.41 and a beta of 2.51. Innoviva has a 52-week low of $10.07 and a 52-week high of $14.87. The company has a debt-to-equity ratio of -2.59, a current ratio of 6.71 and a quick ratio of 6.71.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings results on Wednesday, October 25th. The biotechnology company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.13). The company had revenue of $48.64 million during the quarter, compared to the consensus estimate of $57.18 million. Innoviva had a negative return on equity of 33.55% and a net margin of 52.91%. The firm’s quarterly revenue was up 46.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 earnings per share. analysts anticipate that Innoviva will post 1.08 EPS for the current year.

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In other Innoviva news, CFO Eric Desparbes sold 15,285 shares of Innoviva stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $13.28, for a total value of $202,984.80. Following the transaction, the chief financial officer now owns 337,027 shares in the company, valued at $4,475,718.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP George B. Abercrombie sold 5,215 shares of Innoviva stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $13.26, for a total value of $69,150.90. Following the completion of the transaction, the vice president now owns 263,866 shares in the company, valued at approximately $3,498,863.16. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GSA Capital Partners LLP purchased a new position in Innoviva in the third quarter valued at about $1,111,000. Cubist Systematic Strategies LLC grew its stake in Innoviva by 162.1% in the third quarter. Cubist Systematic Strategies LLC now owns 34,087 shares of the biotechnology company’s stock valued at $481,000 after purchasing an additional 21,082 shares during the last quarter. Sarissa Capital Management LP grew its stake in shares of Innoviva by 3.2% during the third quarter. Sarissa Capital Management LP now owns 3,600,705 shares of the biotechnology company’s stock worth $50,841,000 after acquiring an additional 110,000 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Innoviva during the third quarter worth about $144,000. Finally, Magnetar Financial LLC purchased a new stake in shares of Innoviva during the third quarter worth about $182,000. Institutional investors own 72.14% of the company’s stock.

About Innoviva

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)).

Analyst Recommendations for Innoviva (NASDAQ:INVA)

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