Weiss Ratings Reaffirms "Hold (C)" Rating for Innoviva (NASDAQ:INVA)

Key Points

• Weiss Ratings has reiterated a "Hold (C)" rating for Innoviva (NASDAQ: INVA), indicating a cautious stance on the stock.
• Consensus ratings among analysts show four "Buy" ratings, one "Hold," and one "Sell," with a target price averaging $37.60.
• Innoviva reported a quarterly EPS of $0.77, surpassing estimates, and revenue of $100.28 million, exceeding forecasts of $87.10 million.

Innoviva (NASDAQ:INVA - Get Free Report)'s stock had its "hold (c)" rating reiterated by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other equities research analysts also recently commented on the stock. The Goldman Sachs Group began coverage on shares of Innoviva in a research report on Tuesday, September 30th. They set a "sell" rating and a $17.00 target price for the company. Wall Street Zen lowered Innoviva from a "strong-buy" rating to a "buy" rating in a report on Friday, October 3rd. HC Wainwright raised their target price on Innoviva from $40.00 to $45.00 and gave the company a "buy" rating in a report on Monday, August 11th. Cantor Fitzgerald initiated coverage on Innoviva in a research report on Friday, July 11th. They issued an "overweight" rating and a $26.00 price target for the company. Finally, Oppenheimer began coverage on Innoviva in a research report on Monday, August 11th. They issued an "outperform" rating and a $45.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.60.

Innoviva Price Performance

Shares of INVA opened at $17.37 on Wednesday. Innoviva has a 12-month low of $16.67 and a 12-month high of $22.00. The business's fifty day moving average is $19.39 and its 200 day moving average is $19.20. The company has a quick ratio of 2.44, a current ratio of 2.64 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1.09 billion, a P/E ratio of 56.03 and a beta of 0.40.

Innoviva (NASDAQ:INVA - Get Free Report) last issued its earnings results on Wednesday, August 6th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.20. Innoviva had a return on equity of 18.67% and a net margin of 10.44%.The company had revenue of $100.28 million for the quarter, compared to analysts' expectations of $87.10 million. Sell-side analysts anticipate that Innoviva will post 0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in shares of Innoviva in the 1st quarter worth about $737,000. Principal Financial Group Inc. raised its position in Innoviva by 2.6% in the first quarter. Principal Financial Group Inc. now owns 305,476 shares of the biotechnology company's stock worth $5,538,000 after acquiring an additional 7,700 shares during the period. Farther Finance Advisors LLC raised its position in Innoviva by 10.3% in the first quarter. Farther Finance Advisors LLC now owns 8,516 shares of the biotechnology company's stock worth $153,000 after acquiring an additional 795 shares during the period. US Bancorp DE raised its position in Innoviva by 356.0% in the first quarter. US Bancorp DE now owns 12,753 shares of the biotechnology company's stock worth $231,000 after acquiring an additional 9,956 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Innoviva by 58.9% during the 2nd quarter. GAMMA Investing LLC now owns 7,146 shares of the biotechnology company's stock worth $144,000 after purchasing an additional 2,648 shares during the last quarter. Institutional investors own 99.12% of the company's stock.

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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