BidaskClub upgraded shares of Innoviva (NASDAQ:INVA) from a sell rating to a hold rating in a research note issued to investors on Thursday.

Several other research analysts also recently commented on the stock. ValuEngine downgraded shares of Innoviva from a hold rating to a sell rating in a research note on Tuesday. Zacks Investment Research raised shares of Innoviva from a strong sell rating to a hold rating in a research note on Tuesday, June 26th. Finally, Stifel Nicolaus reissued a hold rating and set a $16.00 price target on shares of Innoviva in a research note on Monday, June 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $13.67.

Innoviva stock traded down $0.08 during mid-day trading on Thursday, hitting $14.51. 7,185 shares of the company traded hands, compared to its average volume of 562,911. Innoviva has a one year low of $11.47 and a one year high of $17.99. The firm has a market cap of $1.50 billion, a PE ratio of 12.54 and a beta of 2.26. The company has a debt-to-equity ratio of -3.13, a current ratio of 26.39 and a quick ratio of 26.39.

Innoviva (NASDAQ:INVA) last announced its earnings results on Thursday, July 26th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.06). Innoviva had a net margin of 70.01% and a negative return on equity of 83.69%. The company had revenue of $67.09 million for the quarter, compared to the consensus estimate of $68.50 million. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. research analysts anticipate that Innoviva will post 1.83 earnings per share for the current year.

In other Innoviva news, VP Theodore J. Jr. Witek sold 8,504 shares of Innoviva stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $14.12, for a total transaction of $120,076.48. Following the transaction, the vice president now directly owns 256,271 shares of the company’s stock, valued at $3,618,546.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.60% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of INVA. SG Americas Securities LLC purchased a new position in shares of Innoviva in the first quarter worth $113,000. OppenheimerFunds Inc. purchased a new position in shares of Innoviva in the second quarter worth $142,000. Jane Street Group LLC purchased a new position in shares of Innoviva in the second quarter worth $147,000. Itau Unibanco Holding S.A. purchased a new position in shares of Innoviva in the second quarter worth $167,000. Finally, Stevens Capital Management LP purchased a new position in shares of Innoviva in the second quarter worth $183,000. 72.69% of the stock is currently owned by institutional investors.

Innoviva Company Profile

Innoviva, Inc engages in the development and commercialization of bio-pharmaceuticals. Its portfolio of respiratory products include RELVAR/BREO ELLIPTA, (fluticasone furoate/ vilanterol, FF/VI); ANORO ELLIPTA (umeclidinium bromide/ vilanterol, UMEC/VI); and TRELEGY ELLIPTA (the combination FF/UMEC/VI).

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Analyst Recommendations for Innoviva (NASDAQ:INVA)

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