Innoviva Inc. (INVA) Trading 3.6% Higher
Innoviva Inc. (NASDAQ:INVA) shares traded up 3.6% on Wednesday . The company traded as high as $11.45 and last traded at $11.37, with a volume of 393,628 shares changing hands. The stock had previously closed at $10.97.
Separately, Zacks Investment Research raised shares of Innoviva from a “hold” rating to a “strong-buy” rating and set a $12.00 price target on the stock in a research report on Wednesday, June 29th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $11.33.
The company’s market capitalization is $1.30 billion. The stock has a 50 day moving average price of $11.09 and a 200-day moving average price of $11.36.
Innoviva (NASDAQ:INVA) last issued its quarterly earnings data on Thursday, April 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.05. The business had revenue of $24.17 million for the quarter, compared to analyst estimates of $28.61 million. The company’s revenue for the quarter was up 250.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. Analysts forecast that Innoviva Inc. will post $0.53 EPS for the current fiscal year.
Innoviva, Inc, formerly Theravance, Inc, is an asset management company that is focused on the development, commercialization and financial management of bio-pharmaceuticals. The Company is focused on managing its 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), with the intention of providing capital returns to stockholders.
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