Innoviva, Inc. (NASDAQ:INVA) VP George B. Abercrombie sold 5,215 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was 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 directly owns 263,866 shares in the company, valued at $3,498,863.16. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Innoviva, Inc. (INVA) traded down $0.16 during trading hours on Friday, reaching $13.26. The company’s stock had a trading volume of 302,432 shares, compared to its average volume of 1,049,057. Innoviva, Inc. has a 12-month low of $10.07 and a 12-month high of $14.87. The company has a debt-to-equity ratio of -2.59, a quick ratio of 6.71 and a current ratio of 6.71. The firm has a market cap of $1,449.56, a P/E ratio of 15.43 and a beta of 2.51.

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

Several research analysts have recently commented on INVA shares. ValuEngine raised Innoviva from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research downgraded Innoviva from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 16th. Cowen Inc set a $16.00 target price on Innoviva and gave the stock a “buy” rating in a report on Friday, July 28th. Robert W. Baird reaffirmed a “neutral” rating and set a $13.00 price objective (up previously from $11.00) on shares of Innoviva in a report on Thursday, July 27th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $15.00 price objective on shares of Innoviva in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Innoviva presently has a consensus rating of “Hold” and an average target price of $13.50.

Large investors have recently bought and sold shares of the business. Federated Investors Inc. PA lifted its holdings in Innoviva by 9.2% during the 2nd quarter. Federated Investors Inc. PA now owns 121,499 shares of the biotechnology company’s stock worth $1,555,000 after buying an additional 10,269 shares in the last quarter. Morgan Stanley lifted its holdings in Innoviva by 92.2% during the 1st 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 in the last quarter. State of Wisconsin Investment Board acquired a new position in shares of Innoviva in the 2nd quarter valued at $730,000. Teachers Advisors LLC lifted its stake in shares of Innoviva by 3.4% in the 1st quarter. Teachers Advisors LLC now owns 135,848 shares of the biotechnology company’s stock valued at $1,879,000 after purchasing an additional 4,452 shares during the period. Finally, Denali Advisors LLC acquired a new position in shares of Innoviva in the 3rd quarter valued at $570,000. 72.14% of the stock is currently owned by hedge funds and other institutional investors.

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Innoviva Company Profile

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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