Innoviva (NASDAQ:INVA) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Innoviva (NASDAQ:INVA) from a buy rating to a hold rating in a research report released on Tuesday morning.

Innoviva Stock Down 0.2 %

Shares of INVA stock opened at $17.35 on Tuesday. The stock’s 50-day simple moving average is $18.98 and its 200-day simple moving average is $18.61. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 1.79. The firm has a market capitalization of $1.09 billion, a PE ratio of 25.15 and a beta of 0.53. Innoviva has a fifty-two week low of $14.32 and a fifty-two week high of $21.28.

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

Institutional Trading of Innoviva

Institutional investors have recently made changes to their positions in the company. American Century Companies Inc. lifted its position in Innoviva by 369.6% during the second quarter. American Century Companies Inc. now owns 459,690 shares of the biotechnology company’s stock worth $7,539,000 after buying an additional 361,797 shares in the last quarter. Marshall Wace LLP raised its position in Innoviva by 823.3% in the second quarter. Marshall Wace LLP now owns 204,752 shares of the biotechnology company’s stock valued at $3,358,000 after purchasing an additional 182,575 shares during the period. Squarepoint Ops LLC purchased a new stake in Innoviva in the second quarter valued at $2,198,000. Denali Advisors LLC raised its position in Innoviva by 34.9% in the second quarter. Denali Advisors LLC now owns 439,786 shares of the biotechnology company’s stock valued at $7,212,000 after purchasing an additional 113,700 shares during the period. Finally, Systematic Financial Management LP raised its position in Innoviva by 4.7% in the third quarter. Systematic Financial Management LP now owns 1,979,073 shares of the biotechnology company’s stock valued at $38,216,000 after purchasing an additional 89,633 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.