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

Key Points

• Innoviva has a “Moderate Buy” consensus rating: Five of seven analysts recommend buying the stock, while one rates it a hold and one a sell. The average 12-month price target is $36.20, with recent targets of $42 and $46.
• Shares opened at $21.44, versus a 52-week range of $16.52 to $25.15. The company has a $1.58 billion market capitalization and a low price-to-earnings ratio of 3.57.
• Innoviva reported quarterly EPS of $0.44, slightly ahead of the $0.43 consensus estimate, though revenue of $97.99 million fell short of the $101.57 million forecast. Institutional investors and hedge funds own 99.12% of the stock.

Shares of Innoviva, Inc. (NASDAQ:INVA - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the seven ratings firms that are covering the company, Marketbeat reports. One equities research 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 12 month price objective among brokers that have issued ratings on the stock in the last year is $36.20.

Several analysts recently weighed in on INVA shares. HC Wainwright reiterated a "buy" rating and issued a $46.00 price objective on shares of Innoviva in a research report on Monday, June 1st. Weiss Ratings restated a "buy (b)" rating on shares of Innoviva in a research report on Wednesday, June 24th. Wall Street Zen upgraded shares of Innoviva from a "hold" rating to a "buy" rating in a research note on Saturday, June 6th. Finally, BTIG Research restated a "buy" rating and issued a $42.00 price target on shares of Innoviva in a research note on Monday, June 22nd.

Innoviva Price Performance

Shares of NASDAQ INVA opened at $21.44 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 21.13 and a quick ratio of 20.07. The firm has a market capitalization of $1.58 billion, a PE ratio of 3.57 and a beta of 0.34. Innoviva has a 1-year low of $16.52 and a 1-year high of $25.15. The business's fifty day moving average price is $22.26 and its two-hundred day moving average price is $22.19.

Innoviva (NASDAQ:INVA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $97.99 million during the quarter, compared to the consensus estimate of $101.57 million. Innoviva had a net margin of 119.89% and a return on equity of 33.33%. On average, research analysts expect that Innoviva will post 2.2 EPS for the current year.

Institutional Trading of Innoviva

Large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its stake in Innoviva by 82.8% during the 1st 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 in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Innoviva by 297.7% in 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 in the last quarter. Danske Bank A S bought a new position in shares of Innoviva in the third quarter worth $55,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Innoviva by 49.1% during the fourth 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 during the period. Finally, Lazard Asset Management LLC acquired a new position in shares of Innoviva during the second quarter valued at $92,000. 99.12% of the stock is currently owned by institutional investors and hedge funds.

Innoviva Company Profile

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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