Innoviva, Inc. (NASDAQ:INVA) Given Consensus Recommendation of “Moderate Buy” by Analysts

Innoviva, Inc. (NASDAQ:INVA) has earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $34.80.

INVA has been the subject of a number of analyst reports. BTIG Research restated a “buy” rating and issued a $35.00 price target on shares of Innoviva in a report on Thursday, February 26th. Weiss Ratings restated a “buy (b)” rating on shares of Innoviva in a research note on Friday. Finally, HC Wainwright lifted their price target on shares of Innoviva from $45.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th.

Innoviva Trading Up 1.1%

NASDAQ:INVA opened at $22.91 on Tuesday. The business’s 50-day moving average is $21.95 and its two-hundred day moving average is $20.37. The firm has a market capitalization of $1.70 billion, a PE ratio of 7.51 and a beta of 0.42. Innoviva has a 12 month low of $16.52 and a 12 month high of $25.15. The company has a debt-to-equity ratio of 0.22, a current ratio of 14.64 and a quick ratio of 13.85.

Innoviva (NASDAQ:INVA) last issued its earnings results on Wednesday, February 25th. The biotechnology company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $0.34 by $1.60. Innoviva had a return on equity of 37.63% and a net margin of 65.92%.The company had revenue of $114.61 million during the quarter, compared to the consensus estimate of $102.62 million. Research analysts predict that Innoviva will post 0.33 earnings per share for the current fiscal year.

Institutional Trading of Innoviva

A number of hedge funds and other institutional investors have recently modified their holdings of INVA. Royal Bank of Canada boosted its holdings in Innoviva by 81.1% in the first quarter. Royal Bank of Canada now owns 21,530 shares of the biotechnology company’s stock valued at $389,000 after purchasing an additional 9,639 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Innoviva by 17.8% in the 1st quarter. AQR Capital Management LLC now owns 167,456 shares of the biotechnology company’s stock valued at $3,036,000 after purchasing an additional 25,317 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Innoviva by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,882 shares of the biotechnology company’s stock valued at $596,000 after buying an additional 1,392 shares during the last quarter. NewEdge Advisors LLC purchased a new position in shares of Innoviva during the 1st quarter valued at approximately $243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Innoviva by 21.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 171,116 shares of the biotechnology company’s stock worth $3,102,000 after buying an additional 30,792 shares in the last quarter. 99.12% of the stock is owned by hedge funds and other institutional investors.

About Innoviva

Innoviva, Inc, incorporated in Delaware and headquartered in San Francisco, California, is a royalty-focused life sciences company. It acquires, manages and monetizes royalty and license interests in biopharmaceutical products, with a primary emphasis on inhaled respiratory therapies. Innoviva’s portfolio is anchored by royalties on therapies originally developed by its former affiliate, now marketed by GlaxoSmithKline, including several long-acting inhaled products approved for chronic obstructive pulmonary disease (COPD) and asthma.

The company was established through a spin‐out transaction in 2014, separating the royalty assets from a research‐based biopharmaceutical enterprise to create a specialized investment vehicle.