BidaskClub upgraded shares of Innoviva (NASDAQ:INVA) from a strong sell rating to a sell rating in a report released on Friday, BidAskClub reports.

Other research analysts also recently issued reports about the company. Zacks Investment Research raised Innoviva from a hold rating to a buy rating and set a $17.00 price target on the stock in a research report on Friday, February 8th. ValuEngine raised Innoviva from a sell rating to a hold rating in a research report on Friday.

Shares of INVA stock opened at $14.95 on Friday. The company has a current ratio of 66.01, a quick ratio of 66.02 and a debt-to-equity ratio of 1.93. Innoviva has a twelve month low of $13.07 and a twelve month high of $20.54. The company has a market capitalization of $1.49 billion, a P/E ratio of 4.13 and a beta of 1.82.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.05). The company had revenue of $55.18 million during the quarter. Innoviva had a net margin of 151.35% and a return on equity of 1,674.72%. On average, research analysts forecast that Innoviva will post 1.46 EPS for the current year.

In other Innoviva news, insider Geoffrey Hulme purchased 7,000 shares of the company’s stock in a transaction on Friday, February 15th. The shares were bought at an average cost of $14.80 per share, with a total value of $103,600.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director George Bickerstaff purchased 10,000 shares of the company’s stock in a transaction on Thursday, February 21st. The stock was acquired at an average cost of $14.90 per share, for a total transaction of $149,000.00. Following the completion of the transaction, the director now owns 38,762 shares in the company, valued at $577,553.80. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 32,000 shares of company stock worth $491,100. Company insiders own 0.18% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of INVA. Norges Bank bought a new position in Innoviva in the 4th quarter worth approximately $23,925,000. D. E. Shaw & Co. Inc. grew its holdings in shares of Innoviva by 104.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,956,320 shares of the biotechnology company’s stock worth $34,138,000 after purchasing an additional 1,001,636 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Innoviva by 179.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,026,320 shares of the biotechnology company’s stock worth $15,641,000 after purchasing an additional 659,372 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Innoviva during the 4th quarter worth approximately $10,852,000. Finally, LSV Asset Management grew its holdings in shares of Innoviva by 34.5% during the 4th quarter. LSV Asset Management now owns 2,407,977 shares of the biotechnology company’s stock worth $42,019,000 after purchasing an additional 617,409 shares in the last quarter. 77.97% of the stock is currently owned by institutional investors.

Innoviva Company Profile

Innoviva, Inc engages in the development and commercialization of pharmaceuticals. The company has long-acting beta2 agonist (LABA) collaboration agreement with Glaxo Group Limited to develop and commercialize once-daily products for the treatment of chronic obstructive pulmonary disease and asthma. Its products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a long-acting beta2 agonist (LABA), vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate (FF); ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA), umeclidinium bromide (UMEC), with a LABA, and VI; and TRELEGY ELLIPTA, a once-daily combination medicine consisting of an ICS, LAMA and LABA.

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