Innoviva Inc. (NASDAQ:INVA) shares rose 3.3% during mid-day trading on Thursday . The company traded as high as $11.34 and last traded at $11.27, with a volume of 221,044 shares trading hands. The stock had previously closed at $10.91.

INVA has been the subject of a number of recent research reports. TheStreet upgraded Innoviva from a “sell” rating to a “hold” rating in a report on Thursday, July 28th. Zacks Investment Research lowered Innoviva from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $11.00 target price (up from $9.00) on shares of Innoviva in a report on Sunday, July 31st. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $11.67.

The firm has a market capitalization of $1.25 billion and a P/E ratio of 67.94. The stock has a 50 day moving average price of $11.99 and a 200 day moving average price of $11.87.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.06. The business had revenue of $32.47 million for the quarter, compared to analysts’ expectations of $31.13 million. The company’s revenue for the quarter was up 204.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.07) EPS. On average, analysts predict that Innoviva Inc. will post $0.62 earnings per share for the current fiscal year.

In other news, CFO Eric Desparbes sold 3,700 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $11.77, for a total transaction of $43,549.00. Following the completion of the sale, the chief financial officer now directly owns 239,893 shares in the company, valued at approximately $2,823,540.61. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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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