Innoviva, Inc. (NASDAQ:INVA) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Innoviva, Inc. has received an average rating of "Moderate Buy" from analysts, with one sell rating and four buy ratings issued.
• The stock's average price target among brokerages is $37.60, while some analysts have set target prices as high as $45.00, reflecting differing valuations.
• Innoviva recently reported strong quarterly earnings of $0.77 EPS, surpassing expectations and generating revenue of $100.28 million.

Shares of Innoviva, Inc. (NASDAQ:INVA - Get Free Report) have been given an average rating of "Moderate Buy" by the five ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $37.60.

INVA has been the topic of several research analyst reports. Cantor Fitzgerald initiated coverage on shares of Innoviva in a report on Friday, July 11th. They issued an "overweight" rating and a $26.00 price target on the stock. HC Wainwright increased their target price on shares of Innoviva from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Wall Street Zen raised shares of Innoviva from a "buy" rating to a "strong-buy" rating in a report on Sunday, September 21st. Oppenheimer assumed coverage on shares of Innoviva in a report on Monday, August 11th. They set an "outperform" rating and a $45.00 target price on the stock. Finally, The Goldman Sachs Group set a $17.00 target price on Innoviva and gave the company a "sell" rating in a research report on Tuesday.

Innoviva Stock Up 0.9%

Innoviva stock opened at $19.03 on Tuesday. The stock has a market cap of $1.20 billion, a P/E ratio of 61.39 and a beta of 0.47. The company has a quick ratio of 2.44, a current ratio of 2.64 and a debt-to-equity ratio of 0.36. Innoviva has a twelve month low of $16.67 and a twelve month high of $22.00. The company's 50-day moving average price is $19.56 and its two-hundred day moving average price is $19.21.

Innoviva (NASDAQ:INVA - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.20. The firm had revenue of $100.28 million for the quarter, compared to analysts' expectations of $87.10 million. Innoviva had a net margin of 10.44% and a return on equity of 18.67%. As a group, analysts expect that Innoviva will post 0.33 EPS for the current year.

Institutional Trading of Innoviva

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in shares of Innoviva during the 1st quarter valued at $737,000. Principal Financial Group Inc. boosted its position in shares of Innoviva by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 305,476 shares of the biotechnology company's stock worth $5,538,000 after acquiring an additional 7,700 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Innoviva by 10.3% during the 1st quarter. Farther Finance Advisors LLC now owns 8,516 shares of the biotechnology company's stock worth $153,000 after acquiring an additional 795 shares in the last quarter. US Bancorp DE boosted its position in shares of Innoviva by 356.0% during the 1st quarter. US Bancorp DE now owns 12,753 shares of the biotechnology company's stock worth $231,000 after acquiring an additional 9,956 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Innoviva by 6.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,324 shares of the biotechnology company's stock worth $2,435,000 after acquiring an additional 8,875 shares in the last quarter. 99.12% of the stock is currently owned by institutional investors.

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.

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