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

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

Innoviva Price Performance

Shares of INVA traded down $0.03 during midday trading on Tuesday, hitting $17.35. 546,980 shares of the company traded hands, compared to its average volume of 596,342. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 25.15 and a beta of 0.53. The firm has a 50 day moving average of $18.98 and a 200-day moving average of $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. Innoviva has a 52 week low of $14.32 and a 52 week high of $21.28.

Innoviva (NASDAQ:INVA) last announced its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.25). Innoviva had a net margin of 18.31% and a return on equity of 20.84%. The firm had revenue of $89.51 million for the quarter. On average, analysts forecast that Innoviva will post 0.33 EPS for the current fiscal year.

Institutional Trading of Innoviva

A number of large investors have recently made changes to their positions in INVA. Martingale Asset Management L P lifted its holdings in shares of Innoviva by 0.7% in the 3rd quarter. Martingale Asset Management L P now owns 77,842 shares of the biotechnology company’s stock valued at $1,503,000 after acquiring an additional 550 shares during the last quarter. US Bancorp DE lifted its stake in shares of Innoviva by 24.5% in the 3rd quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 566 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Innoviva by 18.5% in the 3rd quarter. GAMMA Investing LLC now owns 4,119 shares of the biotechnology company’s stock valued at $80,000 after purchasing an additional 643 shares during the last quarter. FMR LLC boosted its holdings in shares of Innoviva by 8.2% in 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, Evergreen Capital Management LLC increased its position in shares of Innoviva by 10.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 12,321 shares of the biotechnology company’s stock valued at $202,000 after purchasing an additional 1,209 shares during the last quarter. 99.12% of the stock is currently owned by 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.