Innoviva (NASDAQ:INVA - Get Free Report) had its price objective lowered by investment analysts at Cantor Fitzgerald from $36.00 to $34.00 in a report released on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the biotechnology company's stock. Cantor Fitzgerald's price objective would suggest a potential upside of 61.06% from the company's previous close.
Several other equities research analysts also recently commented on the stock. BTIG Research restated a "buy" rating and issued a $42.00 target price on shares of Innoviva in a research note on Monday, June 22nd. Wall Street Zen cut shares of Innoviva from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. HC Wainwright reaffirmed a "buy" rating and set a $46.00 price target on shares of Innoviva in a report on Monday, June 1st. Weiss Ratings reiterated a "buy (b)" rating on shares of Innoviva in a research report on Wednesday, June 24th. Finally, Zacks Research cut Innoviva from a "hold" rating to a "strong sell" rating in a report on Friday, July 31st. Five investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $36.80.
View Our Latest Stock Analysis on Innoviva
Innoviva Stock Performance
NASDAQ:INVA opened at $21.11 on Friday. The firm has a market capitalization of $1.56 billion, a PE ratio of 5.15 and a beta of 0.35. The company has a quick ratio of 20.07, a current ratio of 21.13 and a debt-to-equity ratio of 0.19. Innoviva has a 12-month low of $16.52 and a 12-month high of $25.15. The firm has a 50-day moving average price of $22.07 and a 200 day moving average price of $22.29.
Innoviva (NASDAQ:INVA - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. Innoviva had a return on equity of 28.37% and a net margin of 81.19%.The company had revenue of $97.99 million for the quarter, compared to the consensus estimate of $101.57 million. Research analysts anticipate that Innoviva will post 2.2 earnings per share for the current fiscal year.
Institutional Trading of Innoviva
Large investors have recently made changes to their positions in the company. Parallel Advisors LLC grew its stake in Innoviva by 82.8% in the first quarter. Parallel Advisors LLC now owns 1,179 shares of the biotechnology company's stock valued at $27,000 after acquiring an additional 534 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Innoviva by 297.7% during the second quarter. EverSource Wealth Advisors LLC now owns 2,398 shares of the biotechnology company's stock worth $48,000 after purchasing an additional 1,795 shares during the period. Danske Bank A S bought a new position in shares of Innoviva during the 3rd quarter valued at about $55,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Innoviva by 49.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,633 shares of the biotechnology company's stock valued at $73,000 after purchasing an additional 1,197 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Innoviva in the 2nd quarter valued at approximately $92,000. Institutional investors own 99.12% of the company's stock.
About Innoviva
(
Get Free Report)
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.
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