Innoviva Inc. (NASDAQ:INVA)’s share price was up 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 trading hands. The stock had previously closed at $11.42.

Separately, Zacks Investment Research upgraded shares of Innoviva from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Wednesday, April 20th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Innoviva presently has a consensus rating of “Buy” and an average target price of $11.33.

The stock’s market capitalization is $1.30 billion. The stock has a 50 day moving average of $11.24 and a 200-day moving average of $11.43.

Innoviva (NASDAQ:INVA) last posted its earnings results on Thursday, April 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.09 by $0.05. The firm had revenue of $24.17 million for the quarter, compared to analysts’ expectations of $28.61 million. Innoviva’s quarterly revenue was up 250.8% on a year-over-year basis. During the same period last year, the business posted ($0.09) earnings per share. Equities research analysts expect that Innoviva Inc. will post $0.56 earnings per share for the current fiscal year.

Innoviva, Inc, formerly Theravance, Inc, focuses on bringing new medicines to patients in areas of unmet need. The Company is engaged in the development, commercialization and financial management of bio-pharmaceuticals. Its portfolio focuses on the 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)).

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