Innoviva (NASDAQ:INVA) Raised to “Buy” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Innoviva (NASDAQ:INVA) from a hold rating to a buy rating in a research report report published on Thursday morning, Zacks.com reports. They currently have $17.00 price target on the biotechnology company’s stock.

According to Zacks, “Innoviva, Inc. is focused on the development, commercialization and financial management of bio-pharmaceuticals. The company’s portfolio of respiratory assets partnered with Glaxo Group Limited, including RELVAR(R)/BREO(R) ELLIPTA(R) and ANORO(R) ELLIPTA(R). Innoviva, Inc., formerly known as Theravance, Inc., is headquartered in South San Francisco, California. “

Other equities analysts have also issued reports about the company. TheStreet upgraded Innoviva from a c+ rating to a b- rating in a research report on Thursday, December 12th. ValuEngine upgraded Innoviva from a sell rating to a hold rating in a research report on Friday, November 1st. Finally, BidaskClub upgraded Innoviva from a hold rating to a buy rating in a research report on Tuesday, December 3rd.

Innoviva stock opened at $15.12 on Thursday. The firm has a market capitalization of $1.53 billion, a P/E ratio of 10.57 and a beta of 1.42. Innoviva has a 1 year low of $10.03 and a 1 year high of $16.29. The business has a 50-day moving average of $14.37 and a 200-day moving average of $12.54. The company has a current ratio of 80.29, a quick ratio of 80.29 and a debt-to-equity ratio of 1.10.

Innoviva (NASDAQ:INVA) last posted its earnings results on Wednesday, February 5th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.08). Innoviva had a return on equity of 58.66% and a net margin of 60.35%. The company had revenue of $75.97 million for the quarter. Research analysts anticipate that Innoviva will post 1.56 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of INVA. Geode Capital Management LLC lifted its stake in Innoviva by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 943,294 shares of the biotechnology company’s stock valued at $13,357,000 after acquiring an additional 28,488 shares in the last quarter. Profund Advisors LLC lifted its stake in Innoviva by 6.5% in the 4th quarter. Profund Advisors LLC now owns 11,362 shares of the biotechnology company’s stock valued at $161,000 after acquiring an additional 689 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Innoviva by 1.1% in the 4th quarter. Alliancebernstein L.P. now owns 247,042 shares of the biotechnology company’s stock valued at $3,498,000 after acquiring an additional 2,600 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Innoviva by 5.5% in the 4th quarter. Janus Henderson Group PLC now owns 58,778 shares of the biotechnology company’s stock valued at $832,000 after acquiring an additional 3,040 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in Innoviva by 47.9% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,451 shares of the biotechnology company’s stock valued at $49,000 after acquiring an additional 1,117 shares in the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

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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