Innoviva (INVA) Lifted to Buy at ValuEngine
ValuEngine upgraded shares of Innoviva (NASDAQ:INVA) from a hold rating to a buy rating in a research report released on Wednesday.
A number of other research analysts also recently weighed in on the company. Deutsche Bank started coverage on Innoviva in a research note on Monday, November 20th. They issued a hold rating and a $13.00 price target for the company. TheStreet upgraded Innoviva from a c+ rating to a b rating in a research note on Friday, February 9th. Zacks Investment Research upgraded Innoviva from a sell rating to a hold rating in a research note on Friday, February 9th. Stifel Nicolaus restated a hold rating and issued a $17.00 price target on shares of Innoviva in a research note on Friday, February 9th. Finally, BidaskClub upgraded Innoviva from a hold rating to a buy rating in a research note on Thursday, December 21st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $13.83.
Innoviva (NASDAQ INVA) traded down $0.07 during mid-day trading on Wednesday, reaching $16.24. The company’s stock had a trading volume of 1,308,316 shares, compared to its average volume of 1,258,979. The company has a debt-to-equity ratio of -2.37, a quick ratio of 5.77 and a current ratio of 5.77. The company has a market capitalization of $1,653.62, a P/E ratio of 14.63 and a beta of 2.34. Innoviva has a 12-month low of $11.02 and a 12-month high of $17.21.
In other news, insider Eric Desparbes sold 5,378 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $16.52, for a total value of $88,844.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP George B. Abercrombie sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $16.51, for a total value of $132,080.00. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB acquired a new stake in shares of Innoviva in the fourth quarter valued at approximately $201,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its position in shares of Innoviva by 8.5% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 330,500 shares of the biotechnology company’s stock valued at $4,690,000 after buying an additional 25,900 shares during the last quarter. Sterling Capital Management LLC acquired a new stake in shares of Innoviva in the fourth quarter valued at approximately $834,000. MetLife Investment Advisors LLC acquired a new stake in shares of Innoviva in the fourth quarter valued at approximately $473,000. Finally, Macquarie Group Ltd. lifted its position in shares of Innoviva by 149.0% in the fourth quarter. Macquarie Group Ltd. now owns 25,400 shares of the biotechnology company’s stock valued at $360,000 after buying an additional 15,200 shares during the last quarter. 70.19% of the stock is owned by institutional investors.
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)).
To view ValuEngine’s full report, visit ValuEngine’s official website.
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