Innoviva Inc. (NASDAQ:INVA) shares rose 3.4% during trading on Wednesday . The stock traded as high as $11.83 and last traded at $11.81, with a volume of 120,165 shares traded. The stock had previously closed at $11.42.

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

The stock’s 50-day moving average price is $11.22 and its 200-day moving average price is $11.43. The company’s market cap is $1.32 billion.

Innoviva (NASDAQ:INVA) last issued its earnings results on Thursday, April 28th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by $0.05. During the same period in the previous year, the business posted ($0.09) earnings per share. The firm earned $24.17 million during the quarter, compared to analyst estimates of $28.61 million. The firm’s revenue for the quarter was up 250.8% compared to the same quarter last year. On average, equities research analysts forecast that Innoviva Inc. will post $0.56 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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