Research Analysts Issue Forecasts for Innoviva, Inc.’s FY2024 Earnings (NASDAQ:INVA)

Innoviva, Inc. (NASDAQ:INVA) – Investment analysts at Cantor Fitzgerald issued their FY2024 earnings per share estimates for Innoviva in a research report issued on Tuesday, June 18th. Cantor Fitzgerald analyst L. Chen expects that the biotechnology company will post earnings of $1.09 per share for the year. Cantor Fitzgerald has a “Overweight” rating on the stock.

A number of other brokerages have also recently issued reports on INVA. TheStreet raised Innoviva from a “c” rating to a “b-” rating in a report on Thursday, February 29th. StockNews.com raised Innoviva from a “hold” rating to a “buy” rating in a research note on Friday, March 29th.

Innoviva Stock Down 1.1 %

Shares of INVA opened at $15.90 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 9.17 and a current ratio of 10.42. Innoviva has a 52 week low of $12.22 and a 52 week high of $16.86. The stock has a market capitalization of $992.80 million, a price-to-earnings ratio of 7.16 and a beta of 0.58. The stock has a fifty day moving average of $15.62 and a 200-day moving average of $15.61.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported $0.46 EPS for the quarter. The business had revenue of $77.50 million during the quarter. Innoviva had a net margin of 58.21% and a return on equity of 28.94%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of INVA. Bessemer Group Inc. boosted its stake in shares of Innoviva by 333.5% in the 1st quarter. Bessemer Group Inc. now owns 2,211 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 1,701 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Innoviva by 124.0% in the first quarter. GAMMA Investing LLC now owns 2,262 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 1,252 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Innoviva by 342.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,410 shares of the biotechnology company’s stock valued at $119,000 after acquiring an additional 5,736 shares during the period. SG Americas Securities LLC bought a new stake in shares of Innoviva during the first quarter valued at approximately $138,000. Finally, Quadrant Capital Group LLC grew its position in Innoviva by 13.2% in the 4th quarter. Quadrant Capital Group LLC now owns 9,042 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 1,056 shares during the period. 99.12% of the stock is owned by institutional investors and hedge funds.

Innoviva Company Profile

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.