Innoviva (NASDAQ:INVA) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

Innoviva, Inc. (NASDAQ:INVA) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $19.70 and traded as high as $20.07. Innoviva shares last traded at $19.51, with a volume of 710,335 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on INVA shares. Wall Street Zen raised shares of Innoviva from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Innoviva in a report on Monday. The Goldman Sachs Group assumed coverage on Innoviva in a report on Tuesday, September 30th. They set a “sell” rating and a $17.00 price objective on the stock. Zacks Research lowered Innoviva from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, Cantor Fitzgerald increased their target price on Innoviva from $29.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Innoviva has a consensus rating of “Moderate Buy” and an average price target of $38.80.

Innoviva Price Performance

The company has a quick ratio of 13.33, a current ratio of 14.12 and a debt-to-equity ratio of 0.25. The company has a 50 day simple moving average of $20.02 and a 200-day simple moving average of $19.70. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 14.44 and a beta of 0.47.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.62. The business had revenue of $107.80 million during the quarter, compared to the consensus estimate of $91.31 million. Innoviva had a return on equity of 28.17% and a net margin of 32.78%. As a group, research analysts anticipate that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of INVA. Parallel Advisors LLC grew its position in shares of Innoviva by 157.5% during the 2nd quarter. Parallel Advisors LLC now owns 1,849 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 1,131 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in Innoviva in the second quarter valued at approximately $43,000. EverSource Wealth Advisors LLC grew its holdings in shares of Innoviva by 297.7% during the second quarter. EverSource Wealth Advisors LLC now owns 2,398 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 1,795 shares during the last quarter. Danske Bank A S bought a new position in shares of Innoviva during the third quarter valued at approximately $55,000. Finally, Asset Management One Co. Ltd. acquired a new stake in shares of Innoviva during the 3rd quarter worth approximately $60,000. 99.12% of the stock is currently owned by institutional investors.

About Innoviva

Innoviva, Inc, incorporated in Delaware and headquartered in San Francisco, California, is a royalty-focused life sciences company. It acquires, manages and monetizes royalty and license interests in biopharmaceutical products, with a primary emphasis on inhaled respiratory therapies. Innoviva’s portfolio is anchored by royalties on therapies originally developed by its former affiliate, now marketed by GlaxoSmithKline, including several long-acting inhaled products approved for chronic obstructive pulmonary disease (COPD) and asthma.

The company was established through a spin‐out transaction in 2014, separating the royalty assets from a research‐based biopharmaceutical enterprise to create a specialized investment vehicle.