Innoviva (NASDAQ:INVA) Reaches New 12-Month High at $17.62

Shares of Innoviva, Inc. (NASDAQ:INVA) hit a new 52-week high on Monday . The company traded as high as $17.62 and last traded at $17.58, with a volume of 104853 shares changing hands. The stock had previously closed at $17.19.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on INVA. Cantor Fitzgerald began coverage on Innoviva in a research report on Tuesday, June 18th. They issued an “overweight” rating for the company. StockNews.com upgraded Innoviva from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 15th.

Innoviva Trading Up 2.3 %

The firm has a market cap of $1.10 billion, a PE ratio of 7.74 and a beta of 0.57. The business has a 50-day moving average price of $16.21 and a two-hundred day moving average price of $15.73. The company has a debt-to-equity ratio of 0.63, a current ratio of 10.42 and a quick ratio of 9.17.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported $0.46 EPS for the quarter. The firm had revenue of $77.50 million during the quarter. Innoviva had a return on equity of 28.94% and a net margin of 58.21%. Analysts forecast that Innoviva, Inc. will post 1.09 EPS for the current year.

Institutional Trading of Innoviva

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Texas Permanent School Fund Corp increased its position in Innoviva by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 49,358 shares of the biotechnology company’s stock worth $752,000 after purchasing an additional 662 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in Innoviva by 1.2% in the 4th quarter. SummerHaven Investment Management LLC now owns 58,298 shares of the biotechnology company’s stock worth $935,000 after buying an additional 705 shares during the last quarter. ProShare Advisors LLC boosted its stake in Innoviva by 6.2% in the 1st quarter. ProShare Advisors LLC now owns 16,150 shares of the biotechnology company’s stock worth $246,000 after buying an additional 942 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Innoviva by 13.2% in the 4th quarter. Quadrant Capital Group LLC now owns 9,042 shares of the biotechnology company’s stock worth $145,000 after buying an additional 1,056 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Innoviva by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 323,991 shares of the biotechnology company’s stock worth $4,938,000 after buying an additional 1,121 shares during the last quarter. Hedge funds and other institutional investors own 99.12% of the company’s stock.

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.