Innoviva, Inc. (INVA) - What Are Researchers Thinking About This Stock?

Key Points

• Analyst sentiment is moderately positive: Four of six analysts rate Innoviva a buy and two rate it a hold, with an average one-year price target of $39.25.
• Recent analyst actions were mixed: some firms downgraded or maintained hold ratings, while Oppenheimer initiated coverage with an outperform rating and a $35 price target.
• Institutional investors own 99.12% of the stock. Innoviva shares opened at $20.93, within a 12-month range of $17.87 to $25.15.

Shares of Innoviva, Inc. (NASDAQ:INVA - Get Free Report) have been given an average rating of "Moderate Buy" by the six analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $39.25.

Several analysts have issued reports on INVA shares. Weiss Ratings lowered Innoviva from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, September 24th. Wall Street Zen downgraded shares of Innoviva from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Cantor Fitzgerald lowered their price objective on shares of Innoviva from $36.00 to $34.00 and set an "overweight" rating for the company in a report on Friday, August 7th. Oppenheimer began coverage on shares of Innoviva in a research note on Wednesday, September 23rd. They issued an "outperform" rating and a $35.00 price objective for the company. Finally, Zacks Research raised shares of Innoviva from a "strong sell" rating to a "hold" rating in a report on Monday, August 31st.

Institutional Trading of Innoviva

Several institutional investors have recently added to or reduced their stakes in INVA. BlackRock Inc. purchased a new position in shares of Innoviva in the second quarter worth $77,562,000. Dimensional Fund Advisors LP boosted its holdings in Innoviva by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 4,436,427 shares of the biotechnology company's stock valued at $103,366,000 after acquiring an additional 76,026 shares in the last quarter. Bank of America Corp DE bought a new stake in Innoviva in the second quarter valued at $37,873,000. Deutsche Bank AG bought a new stake in Innoviva in the second quarter valued at $20,847,000. Finally, William Blair Investment Management LLC purchased a new position in Innoviva during the 2nd quarter valued at $14,584,000. 99.12% of the stock is currently owned by hedge funds and other institutional investors.

Innoviva Price Performance

INVA opened at $20.93 on Wednesday. The company has a current ratio of 16.01, a quick ratio of 15.18 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $1.51 billion, a P/E ratio of 5.10, a PEG ratio of 3.03 and a beta of 0.38. The stock has a 50-day moving average price of $20.99 and a 200-day moving average price of $21.87. Innoviva has a 12-month low of $17.87 and a 12-month high of $25.15.

About Innoviva

Innoviva, Inc is a healthcare company focused on developing, commercializing and managing medicines, with an emphasis on respiratory and hospital-based therapies. The company's business model includes royalty interests in marketed products as well as ownership and investment in companies developing or commercializing innovative treatments.

Innoviva receives royalty revenue from respiratory medicines developed in collaboration with GlaxoSmithKline, including Trelegy Ellipta, Anoro Ellipta and Relvar/Breo Ellipta.

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