Innoviva, Inc. (NASDAQ:INVA) Receives $38.80 Consensus Price Target from Analysts

Shares of Innoviva, Inc. (NASDAQ:INVA) have been assigned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $38.80.

A number of equities research analysts have issued reports on the stock. Zacks Research lowered shares of Innoviva from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. HC Wainwright lifted their price objective on Innoviva from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Cantor Fitzgerald upped their target price on shares of Innoviva from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Innoviva in a research note on Monday, December 29th. Finally, Wall Street Zen raised shares of Innoviva from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 25th.

Innoviva Stock Performance

Shares of Innoviva stock opened at $21.48 on Monday. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 15.68 and a beta of 0.44. The company has a debt-to-equity ratio of 0.25, a current ratio of 14.12 and a quick ratio of 13.33. The business has a 50-day moving average of $20.12 and a 200 day moving average of $19.60. Innoviva has a 12 month low of $16.52 and a 12 month high of $22.76.

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

Institutional Trading of Innoviva

A number of hedge funds and other institutional investors have recently bought and sold shares of INVA. Vanguard Group Inc. boosted its position in shares of Innoviva by 11.6% during the 4th quarter. Vanguard Group Inc. now owns 7,917,103 shares of the biotechnology company’s stock worth $158,263,000 after acquiring an additional 819,757 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Innoviva by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 4,330,353 shares of the biotechnology company’s stock valued at $79,034,000 after purchasing an additional 35,960 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Innoviva by 38.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,358,633 shares of the biotechnology company’s stock valued at $43,045,000 after purchasing an additional 650,151 shares during the last quarter. American Century Companies Inc. increased its stake in Innoviva by 13.8% in the third quarter. American Century Companies Inc. now owns 2,351,006 shares of the biotechnology company’s stock valued at $42,906,000 after purchasing an additional 284,253 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Innoviva by 23.9% during the 3rd quarter. Marshall Wace LLP now owns 1,651,711 shares of the biotechnology company’s stock worth $30,144,000 after buying an additional 318,745 shares during the last quarter. 99.12% of the stock is currently owned by institutional investors and hedge funds.

Innoviva Company Profile

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.