Innoviva Inc. (INVA) Trading Up 3.3%
Innoviva Inc. (NASDAQ:INVA) shares were up 3.3% during trading on Thursday . The stock traded as high as $11.34 and last traded at $11.27, with a volume of 221,044 shares traded. The stock had previously closed at $10.91.
Several research analysts have commented on INVA shares. Zacks Investment Research cut shares of Innoviva from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. TheStreet raised shares of Innoviva from a “sell” rating to a “hold” rating in a research report on Thursday, July 28th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $11.00 price target (up from $9.00) on shares of Innoviva in a research report on Sunday, July 31st. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $11.67.
The firm’s 50-day moving average is $11.99 and its 200 day moving average is $11.87. The firm has a market cap of $1.27 billion and a PE ratio of 68.97.
Innoviva (NASDAQ:INVA) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.06. The firm had revenue of $32.47 million for the quarter, compared to the consensus estimate of $31.13 million. During the same period in the prior year, the firm posted ($0.07) earnings per share. The business’s revenue for the quarter was up 204.6% compared to the same quarter last year. On average, equities research analysts expect that Innoviva Inc. will post $0.62 EPS for the current year.
In other Innoviva news, CFO Eric Desparbes sold 3,700 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,823,540.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
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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