Innoviva Inc. (NASDAQ:INVA) traded up 3.6% during trading on Wednesday . The stock traded as high as $12.16 and last traded at $11.85, with a volume of 357,846 shares traded. The stock had previously closed at $11.44.

Separately, Zacks Investment Research raised shares of Innoviva from a “hold” rating to a “strong-buy” rating and set a $12.00 target price for the company in a research report on Wednesday, June 29th. Four research 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 company. The stock presently has a consensus rating of “Buy” and an average price target of $11.33.

The stock has a 50-day moving average of $11.26 and a 200 day moving average of $11.48. The firm’s market capitalization is $1.50 billion.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.06. The firm had revenue of $32.47 million for the quarter, compared to analyst estimates of $31.13 million. Innoviva’s revenue for the quarter was up 204.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.07) EPS. Equities research analysts anticipate that Innoviva Inc. will post $0.56 earnings per share for the current 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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