Innoviva Inc. (NASDAQ:INVA) fell 2.7% on Monday . The stock traded as low as $11.00 and last traded at $11.07, with a volume of 184,780 shares. The stock had previously closed at $11.38.

Several research firms have recently weighed in on INVA. Zacks Investment Research raised shares of Innoviva from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Tuesday. Robert W. Baird reissued a “neutral” rating and issued a $11.00 target price (up previously from $9.00) on shares of Innoviva in a research report on Sunday, July 31st. Finally, TheStreet raised shares of Innoviva from a “sell” rating to a “hold” rating in a research report on Thursday, July 28th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $11.67.

The firm’s 50 day moving average price is $11.95 and its 200 day moving average price is $11.87. The firm has a market capitalization of $1.23 billion and a price-to-earnings ratio of 66.97.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.06. The company earned $32.47 million during the quarter, compared to the consensus estimate of $31.13 million. Innoviva’s revenue for the quarter was up 204.6% on a year-over-year basis. During the same period last year, the company earned ($0.07) earnings per share. On average, analysts expect that Innoviva Inc. will post $0.62 earnings per share for the current year.

In other Innoviva news, CFO Eric Desparbes sold 3,700 shares of the stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $11.77, for a total value 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 legal filing with the SEC, which is available 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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