Innoviva Inc. (NASDAQ:INVA) shares were up 3.6% during mid-day trading on Wednesday . The company traded as high as $11.45 and last traded at $11.37, with a volume of 393,628 shares trading hands. The stock had previously closed at $10.97.

Separately, Zacks Investment Research upgraded shares of Innoviva from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Tuesday, April 5th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Innoviva currently has a consensus rating of “Buy” and a consensus target price of $11.33.

The stock’s 50-day moving average is $11.05 and its 200-day moving average is $11.36. The company’s market cap is $1.29 billion.

Innoviva (NASDAQ:INVA) last released its quarterly earnings results on Thursday, April 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.09 by $0.05. The company had revenue of $24.17 million for the quarter, compared to analysts’ expectations of $28.61 million. During the same period last year, the business posted ($0.09) EPS. Innoviva’s revenue was up 250.8% compared to the same quarter last year. On average, analysts predict that Innoviva Inc. will post $0.53 EPS for the current year.

Innoviva, Inc, formerly Theravance, Inc, is an asset management company that is focused on the development, commercialization and financial management of bio-pharmaceuticals. The Company is focused on managing its respiratory assets partnered with Glaxo Group Limited (GSK), including RELVAR/BREO ELLIPTA (fluticasone furoate/ vilanterol, FF/VI) and ANORO ELLIPTA (umeclidinium bromide/ vilanterol, UMEC/VI), with the intention of providing capital returns to stockholders.

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