Innoviva Inc. (INVA) Stock Price Down 1.3%
Innoviva Inc. (NASDAQ:INVA)’s share price traded down 1.3% during mid-day trading on Monday . The company traded as low as $11.70 and last traded at $11.74, with a volume of 198,432 shares. The stock had previously closed at $11.89.
Separately, Zacks Investment Research upgraded shares of Innoviva from a “hold” rating to a “strong-buy” rating and set a $12.00 target price on the stock in a research report on Wednesday, June 29th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $11.33.
The firm’s market cap is $1.33 billion. The firm’s 50-day moving average is $11.21 and its 200 day moving average is $11.43.
Innoviva (NASDAQ:INVA) last released its earnings results on Thursday, April 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.09 by $0.05. The business had revenue of $24.17 million for the quarter, compared to analysts’ expectations of $28.61 million. The firm’s revenue for the quarter was up 250.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.09) earnings per share. Equities research analysts predict that Innoviva Inc. will post $0.56 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.