Innoviva, Inc. (NASDAQ:INVA - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.73 and traded as high as $24.31. Innoviva shares last traded at $23.92, with a volume of 515,379 shares.
Wall Street Analysts Forecast Growth
INVA has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Innoviva in a research report on Friday, March 27th. BTIG Research reaffirmed a "buy" rating and set a $35.00 price objective on shares of Innoviva in a research report on Thursday, February 26th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $34.80.
View Our Latest Stock Analysis on Innoviva
Innoviva Stock Performance
The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 7.84 and a beta of 0.40. The company has a current ratio of 14.64, a quick ratio of 13.85 and a debt-to-equity ratio of 0.22. The stock's fifty day simple moving average is $22.79 and its 200-day simple moving average is $20.73.
Innoviva (NASDAQ:INVA - Get Free Report) last released its earnings results on Wednesday, February 25th. The biotechnology company reported $1.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $1.60. The company had revenue of $114.61 million for the quarter, compared to analyst estimates of $102.62 million. Innoviva had a net margin of 65.92% and a return on equity of 37.63%. Analysts predict that Innoviva, Inc. will post 0.33 EPS for the current year.
Institutional Investors Weigh In On Innoviva
Hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its holdings in Innoviva by 297.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,398 shares of the biotechnology company's stock worth $48,000 after buying an additional 1,795 shares in the last quarter. Danske Bank A S acquired a new stake in Innoviva during the 3rd quarter worth approximately $55,000. Asset Management One Co. Ltd. acquired a new stake in Innoviva during the 3rd quarter worth approximately $60,000. Toth Financial Advisory Corp acquired a new stake in Innoviva during the 3rd quarter worth approximately $63,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Innoviva by 49.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,633 shares of the biotechnology company's stock worth $73,000 after buying an additional 1,197 shares in the last quarter. 99.12% of the stock is currently owned by institutional investors and hedge funds.
About Innoviva
(
Get Free Report)
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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