Innoviva (NASDAQ:INVA) Upgraded to Buy by BidaskClub

Innoviva (NASDAQ:INVA) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, BidAskClub reports.

Several other equities analysts have also recently commented on INVA. TheStreet upgraded shares of Innoviva from a “c+” rating to a “b-” rating in a research report on Thursday, December 12th. Zacks Investment Research upgraded shares of Innoviva from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Thursday, February 20th.

Shares of Innoviva stock opened at $12.01 on Friday. Innoviva has a twelve month low of $7.58 and a twelve month high of $15.35. The company has a quick ratio of 80.29, a current ratio of 80.29 and a debt-to-equity ratio of 1.10. The company has a 50-day simple moving average of $12.92 and a two-hundred day simple moving average of $12.63. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 8.40 and a beta of 0.97.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.08). Innoviva had a return on equity of 58.66% and a net margin of 60.35%. The business had revenue of $75.97 million during the quarter. On average, sell-side analysts anticipate that Innoviva will post 1.56 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of INVA. Norges Bank acquired a new position in shares of Innoviva in the 4th quarter valued at approximately $17,300,000. First Eagle Investment Management LLC raised its position in shares of Innoviva by 33.5% in the 4th quarter. First Eagle Investment Management LLC now owns 1,665,400 shares of the biotechnology company’s stock valued at $23,582,000 after buying an additional 417,600 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Innoviva by 4.1% in the 4th quarter. Renaissance Technologies LLC now owns 7,893,697 shares of the biotechnology company’s stock valued at $111,775,000 after buying an additional 312,010 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Innoviva by 123.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 556,974 shares of the biotechnology company’s stock valued at $7,887,000 after buying an additional 307,423 shares in the last quarter. Finally, Mackay Shields LLC acquired a new position in shares of Innoviva in the 4th quarter valued at approximately $3,420,000. Institutional investors own 73.95% of the company’s stock.

Innoviva Company Profile

Innoviva, Inc engages in the development and commercialization of pharmaceuticals. The company has long-acting beta2 agonist (LABA) collaboration agreement with Glaxo Group Limited to develop and commercialize once-daily products for the treatment of chronic obstructive pulmonary disease and asthma. Its products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a long-acting beta2 agonist (LABA), vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate (FF); ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA), umeclidinium bromide (UMEC), with a LABA, and VI; and TRELEGY ELLIPTA, a once-daily combination medicine consisting of an ICS, LAMA and LABA.

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