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

Key Points

• Analysts have assigned Innoviva a consensus rating of "Moderate Buy" from seven brokerages (five buys, one hold, one sell) with an average 12‑month price target of $34.80.
• In its latest quarter Innoviva reported a major beat — $1.94 EPS vs. a $0.34 consensus and revenue of $114.6M (vs. $102.6M), delivering a 65.9% net margin and 37.6% return on equity.
• Shares opened at $24.24 (52‑week range $16.52–$25.15) with a market cap of about $1.8B and a P/E of 7.95, an unusually strong liquidity position (quick ratio 13.85, current ratio 14.64), and roughly 99% institutional ownership.

Shares of Innoviva, Inc. (NASDAQ:INVA - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seven brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $34.80.

Several analysts have recently issued reports on the stock. BTIG Research reiterated a "buy" rating and issued a $35.00 target price on shares of Innoviva in a research report on Thursday, February 26th. Weiss Ratings reiterated a "buy (b)" rating on shares of Innoviva in a research report on Friday, March 27th.

Innoviva Stock Up 2.7%

Shares of NASDAQ INVA opened at $24.24 on Friday. The company's 50-day simple moving average is $22.88 and its 200-day simple moving average is $20.78. Innoviva has a 52-week low of $16.52 and a 52-week high of $25.15. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 7.95 and a beta of 0.40. The company has a quick ratio of 13.85, a current ratio of 14.64 and a debt-to-equity ratio of 0.22.

Innoviva (NASDAQ:INVA - Get Free Report) last announced its earnings results on Wednesday, February 25th. The biotechnology company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $1.60. Innoviva had a net margin of 65.92% and a return on equity of 37.63%. The business had revenue of $114.61 million for the quarter, compared to analyst estimates of $102.62 million. Equities analysts predict that Innoviva will post 0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Innoviva

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Creative Planning boosted its position in Innoviva by 0.8% during the third quarter. Creative Planning now owns 61,365 shares of the biotechnology company's stock worth $1,120,000 after acquiring an additional 461 shares during the last quarter. Bailard Inc. boosted its position in Innoviva by 4.7% during the fourth quarter. Bailard Inc. now owns 10,933 shares of the biotechnology company's stock worth $219,000 after acquiring an additional 492 shares during the last quarter. Verition Fund Management LLC boosted its position in Innoviva by 0.3% during the third quarter. Verition Fund Management LLC now owns 175,855 shares of the biotechnology company's stock worth $3,209,000 after acquiring an additional 527 shares during the last quarter. Bank of Montreal Can boosted its position in Innoviva by 3.8% during the fourth quarter. Bank of Montreal Can now owns 14,742 shares of the biotechnology company's stock worth $295,000 after acquiring an additional 540 shares during the last quarter. Finally, Vise Technologies Inc. boosted its position in Innoviva by 6.1% during the third quarter. Vise Technologies Inc. now owns 12,581 shares of the biotechnology company's stock worth $230,000 after acquiring an additional 724 shares during the last quarter. 99.12% of the stock is currently owned by institutional investors and hedge funds.

About Innoviva

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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