Shares of Innoviva Inc. (NASDAQ:INVA) traded down 1.3% during mid-day trading on Monday . The stock traded as low as $11.70 and last traded at $11.74, with a volume of 198,432 shares changing hands. The stock had previously closed at $11.89.

Separately, Zacks Investment Research lowered Innoviva from a “buy” rating to a “hold” rating in a report on Wednesday, April 13th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Innoviva has a consensus rating of “Buy” and a consensus price target of $11.33.

The firm has a 50-day moving average price of $11.22 and a 200-day moving average price of $11.43. The firm’s market capitalization is $1.33 billion.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Thursday, April 28th. The company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.05. The firm earned $24.17 million during the quarter, compared to analysts’ expectations of $28.61 million. Innoviva’s quarterly revenue was up 250.8% on a year-over-year basis. During the same period last year, the firm earned ($0.09) earnings per share. On average, equities research analysts forecast that Innoviva Inc. will post $0.56 EPS for the current 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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