Innoviva (NASDAQ:INVA) Coverage Initiated at Cantor Fitzgerald

Research analysts at Cantor Fitzgerald initiated coverage on shares of Innoviva (NASDAQ:INVA - Get Free Report) in a research report issued 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 price objective indicates a potential upside of 36.41% from the company's current price.

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

Innoviva Price Performance

NASDAQ:INVA opened at $19.06 on Friday. Innoviva has a 52 week low of $16.67 and a 52 week high of $22.00. The company has a quick ratio of 2.30, a current ratio of 2.48 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $1.20 billion, a P/E ratio of -18.87 and a beta of 0.37. The stock's fifty day moving average is $19.79 and its two-hundred day moving average is $18.56.

Innoviva (NASDAQ:INVA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The biotechnology company reported $0.25 EPS for the quarter. Innoviva had a positive return on equity of 15.77% and a negative net margin of 16.15%. The company had revenue of $88.63 million for the quarter. Equities analysts expect that Innoviva will post 0.33 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC grew its stake in Innoviva by 157.5% during the 2nd quarter. Parallel Advisors LLC now owns 1,849 shares of the biotechnology company's stock worth $37,000 after purchasing an additional 1,131 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Innoviva during the 1st quarter worth $56,000. Tower Research Capital LLC TRC grew its stake in Innoviva by 75.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,962 shares of the biotechnology company's stock worth $86,000 after purchasing an additional 2,128 shares in the last quarter. Farther Finance Advisors LLC grew its stake in 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 purchasing an additional 795 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Innoviva during the 4th quarter worth about $176,000. 99.12% of the stock is owned by institutional investors and hedge funds.

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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