HC Wainwright Analysts Boost Earnings Estimates for Innoviva

Key Points

• HC Wainwright has increased Innoviva's FY2025 earnings per share (EPS) estimates from $1.82 to $1.98, maintaining a "Buy" rating with a price target of $45.00.
• Innoviva reported a quarterly EPS of $0.77, exceeding the consensus estimate of $0.57, with revenues of $100.28 million compared to the expected $87.10 million.
• The stock has seen a strong performance with a current price of $20.72, reflecting a market cap of $1.30 billion and a PE ratio of 66.81.

Innoviva, Inc. (NASDAQ:INVA - Free Report) - Stock analysts at HC Wainwright raised their FY2025 earnings per share estimates for Innoviva in a research report issued to clients and investors on Monday, August 11th. HC Wainwright analyst R. Selvaraju now anticipates that the biotechnology company will post earnings per share of $1.98 for the year, up from their previous estimate of $1.82. HC Wainwright currently has a "Buy" rating and a $45.00 price target on the stock. The consensus estimate for Innoviva's current full-year earnings is $0.33 per share.

Several other equities analysts also recently weighed in on INVA. Cantor Fitzgerald began coverage on Innoviva in a research report on Friday, July 11th. They issued an "overweight" rating and a $26.00 target price for the company. Oppenheimer started coverage on Innoviva in a research report on Monday, August 11th. They set an "outperform" rating and a $45.00 price target for the company. Finally, Wall Street Zen upgraded shares of Innoviva from a "buy" rating to a "strong-buy" rating in a report on Saturday. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $42.75.

Innoviva Stock Performance

Shares of NASDAQ INVA traded down $0.2450 during trading on Thursday, reaching $20.5350. 139,460 shares of the company traded hands, compared to its average volume of 829,813. Innoviva has a 12-month low of $16.67 and a 12-month high of $22.00. The company has a current ratio of 2.64, a quick ratio of 2.44 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1.29 billion, a P/E ratio of 66.08 and a beta of 0.38. The firm's fifty day simple moving average is $19.81 and its 200 day simple moving average is $18.82.

Innoviva (NASDAQ:INVA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.57 by $0.20. Innoviva had a net margin of 10.44% and a return on equity of 18.67%. The company had revenue of $100.28 million for the quarter, compared to the consensus estimate of $87.10 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC increased its position in Innoviva by 318.4% during the 1st quarter. Millennium Management LLC now owns 1,676,057 shares of the biotechnology company's stock worth $30,387,000 after purchasing an additional 1,275,444 shares in the last quarter. Marshall Wace LLP increased its holdings in Innoviva by 870.3% during the 2nd quarter. Marshall Wace LLP now owns 1,332,966 shares of the biotechnology company's stock worth $26,779,000 after purchasing an additional 1,195,596 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Innoviva by 85.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,708,482 shares of the biotechnology company's stock worth $34,323,000 after buying an additional 786,409 shares in the last quarter. Nuveen LLC bought a new position in shares of Innoviva during the 1st quarter valued at approximately $7,307,000. Finally, American Century Companies Inc. boosted its position in Innoviva by 23.3% during the second quarter. American Century Companies Inc. now owns 2,066,753 shares of the biotechnology company's stock worth $41,521,000 after purchasing an additional 391,056 shares during the period. Institutional investors own 99.12% of the company's stock.

Innoviva Company Profile

Innoviva, Inc engages in the development and commercialization of pharmaceutical products in the United States and internationally. The company's products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a LABA, vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate; ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA) and umeclidinium bromide (UMEC) with a LABA, VI; GIAPREZA (angiotensin II), a vasoconstrictor to increase blood pressure in adults with septic or other distributive shock; XERAVA (eravacycline) for the treatment of complicated intra-abdominal infections in adults; and XACDURO, a beta lactamase inhibitor for the treatment of hospital-acquired bacterial pneumonia and ventilator-associated bacterial pneumonia.