Innoviva (NASDAQ:INVA) Upgraded at StockNews.com

Innoviva (NASDAQ:INVA) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Innoviva Price Performance

Innoviva stock opened at $18.26 on Wednesday. The company has a market capitalization of $1.14 billion, a PE ratio of 26.46 and a beta of 0.55. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average price of $18.23 and a two-hundred day moving average price of $18.89. Innoviva has a 12 month low of $14.32 and a 12 month high of $21.28.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.25). Innoviva had a net margin of 18.31% and a return on equity of 20.84%. The business had revenue of $89.51 million during the quarter. Analysts expect that Innoviva will post 0.33 EPS for the current year.

Institutional Trading of Innoviva

A number of institutional investors and hedge funds have recently bought and sold shares of INVA. Barclays PLC boosted its stake in shares of Innoviva by 254.2% in the 3rd quarter. Barclays PLC now owns 100,594 shares of the biotechnology company’s stock valued at $1,942,000 after purchasing an additional 72,192 shares during the last quarter. Jane Street Group LLC boosted its position in Innoviva by 46.4% during the third quarter. Jane Street Group LLC now owns 136,361 shares of the biotechnology company’s stock valued at $2,633,000 after acquiring an additional 43,218 shares during the last quarter. FMR LLC grew its holdings in Innoviva by 8.2% during the 3rd quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock worth $195,000 after acquiring an additional 771 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of Innoviva in the 3rd quarter worth about $715,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Innoviva by 3.5% in the 3rd quarter. Victory Capital Management Inc. now owns 140,454 shares of the biotechnology company’s stock valued at $2,712,000 after purchasing an additional 4,699 shares during the period. 99.12% of the stock is currently owned by institutional investors and hedge funds.

About Innoviva

Innoviva, Inc engages in the development and commercialization of pharmaceutical products in the United States and internationally. The company’s products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a LABA, vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate; ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA) and umeclidinium bromide (UMEC) with a LABA, VI; GIAPREZA (angiotensin II), a vasoconstrictor to increase blood pressure in adults with septic or other distributive shock; XERAVA (eravacycline) for the treatment of complicated intra-abdominal infections in adults; and XACDURO, a beta lactamase inhibitor for the treatment of hospital-acquired bacterial pneumonia and ventilator-associated bacterial pneumonia.