Innoviva (NASDAQ:INVA) Now Covered by Analysts at Cantor Fitzgerald

Analysts at Cantor Fitzgerald began coverage on shares of Innoviva (NASDAQ:INVA - Get Free Report) in a research note issued to investors on Friday, MarketBeat reports. The brokerage set an "overweight" rating and a $26.00 price target on the biotechnology company's stock. Cantor Fitzgerald's target price suggests a potential upside of 32.79% from the company's current price. Cantor Fitzgerald also issued estimates for Innoviva's FY2026 earnings at $1.84 EPS.

Separately, Wall Street Zen upgraded shares of Innoviva from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th.

Innoviva Trading Up 4.3%

NASDAQ:INVA traded up $0.81 on Friday, hitting $19.58. 1,259,690 shares of the stock were exchanged, compared to its average volume of 707,739. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -19.39 and a beta of 0.37. Innoviva has a 52 week low of $16.67 and a 52 week high of $22.00. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.30 and a current ratio of 2.48. The company's 50-day moving average price is $19.79 and its 200 day moving average price is $18.58.

Innoviva (NASDAQ:INVA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $0.25 earnings per share for the quarter. The firm had revenue of $88.63 million during the quarter. Innoviva had a positive return on equity of 15.77% and a negative net margin of 16.15%. On average, equities research analysts forecast that Innoviva will post 0.33 earnings per share for the current year.

Hedge Funds Weigh In On Innoviva

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Martingale Asset Management L P grew its stake in shares of Innoviva by 0.7% in the first quarter. Martingale Asset Management L P now owns 78,412 shares of the biotechnology company's stock valued at $1,422,000 after buying an additional 570 shares in the last quarter. BOKF NA grew its stake in shares of Innoviva by 2.3% in the fourth quarter. BOKF NA now owns 28,648 shares of the biotechnology company's stock valued at $495,000 after buying an additional 641 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Innoviva by 10.3% in the first quarter. Farther Finance Advisors LLC now owns 8,516 shares of the biotechnology company's stock valued at $153,000 after buying an additional 795 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Innoviva by 157.5% in the second quarter. Parallel Advisors LLC now owns 1,849 shares of the biotechnology company's stock valued at $37,000 after buying an additional 1,131 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Innoviva by 3.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,490 shares of the biotechnology company's stock valued at $546,000 after buying an additional 1,162 shares in the last quarter. 99.12% of the stock is 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.