Innoviva (NASDAQ:INVA) Sets New 1-Year High - Time to Buy?

Innoviva, Inc. (NASDAQ:INVA - Get Free Report) shares reached a new 52-week high on Friday . The stock traded as high as $21.60 and last traded at $21.51, with a volume of 300622 shares traded. The stock had previously closed at $21.17.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on INVA shares. Wall Street Zen upgraded shares of Innoviva from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Scotiabank began coverage on Innoviva in a research report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 target price on the stock.

Innoviva Stock Up 1.5%

The stock has a fifty day simple moving average of $18.54 and a two-hundred day simple moving average of $18.27. The firm has a market cap of $1.35 billion, a PE ratio of 31.15 and a beta of 0.37. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38.

Innoviva (NASDAQ:INVA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $0.25 EPS for the quarter. The firm had revenue of $88.63 million during the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. As a group, sell-side analysts expect that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Innoviva

Several large investors have recently added to or reduced their stakes in INVA. Martingale Asset Management L P raised its holdings in shares of Innoviva by 0.7% in the 1st quarter. Martingale Asset Management L P now owns 78,412 shares of the biotechnology company's stock valued at $1,422,000 after acquiring an additional 570 shares in the last quarter. BOKF NA increased its position in shares of Innoviva by 2.3% in the fourth quarter. BOKF NA now owns 28,648 shares of the biotechnology company's stock worth $495,000 after purchasing an additional 641 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in Innoviva by 2.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 29,066 shares of the biotechnology company's stock valued at $504,000 after purchasing an additional 784 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Innoviva by 10.3% during the first quarter. Farther Finance Advisors LLC now owns 8,516 shares of the biotechnology company's stock valued at $153,000 after purchasing an additional 795 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Innoviva by 3.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,490 shares of the biotechnology company's stock worth $546,000 after buying an additional 1,162 shares during the last quarter. Institutional investors own 99.12% of the company's stock.

About Innoviva

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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