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

Innoviva (NASDAQ:INVA) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Innoviva Trading Down 0.8 %

Shares of NASDAQ INVA opened at $18.08 on Thursday. 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 business’s 50 day moving average price is $18.13 and its 200-day moving average price is $18.89. Innoviva has a fifty-two week low of $14.32 and a fifty-two week high of $21.28. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 26.20 and a beta of 0.55.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. US Bancorp DE increased its holdings in Innoviva by 24.5% during the 3rd quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 566 shares during the period. KBC Group NV increased its holdings in Innoviva by 73.9% during the 4th quarter. KBC Group NV now owns 4,100 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 1,743 shares during the period. Tower Research Capital LLC TRC increased its holdings in Innoviva by 75.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,962 shares of the biotechnology company’s stock worth $86,000 after purchasing an additional 2,128 shares during the period. FMR LLC increased 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 purchasing an additional 771 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new position in Innoviva during the 4th quarter worth $176,000. 99.12% of the stock is currently owned by hedge funds and other institutional investors.

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.