Innoviva, Inc. (NASDAQ:INVA) Stock Has Consensus Target Price of $39.25

Innoviva, Inc. (NASDAQ:INVA) has received an average recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $39.25.

A number of research analysts have recently commented on INVA shares. Cantor Fitzgerald dropped their price target on Innoviva from $36.00 to $34.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Oppenheimer started coverage on Innoviva in a report on Wednesday, September 23rd. They issued an “outperform” rating and a $35.00 price objective for the company. Wall Street Zen downgraded Innoviva from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings lowered Innoviva from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 24th. Finally, Zacks Research upgraded shares of Innoviva from a “strong sell” rating to a “hold” rating in a report on Monday, August 31st.

Innoviva Stock Down 0.4%

INVA stock opened at $20.93 on Wednesday. Innoviva has a fifty-two week low of $17.87 and a fifty-two week high of $25.15. The business’s 50 day moving average price is $20.99 and its two-hundred day moving average price is $21.87. The company has a debt-to-equity ratio of 0.21, a quick ratio of 15.18 and a current ratio of 16.01. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 5.10, a price-to-earnings-growth ratio of 3.03 and a beta of 0.38.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Innoviva in the second quarter worth about $77,562,000. Bank of America Corp DE bought a new position in shares of Innoviva during the second quarter valued at approximately $37,873,000. Deutsche Bank AG purchased a new position in shares of Innoviva during the second quarter valued at approximately $20,847,000. William Blair Investment Management LLC purchased a new position in shares of Innoviva during the second quarter valued at approximately $14,584,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Innoviva during the second quarter valued at approximately $11,607,000. 99.12% of the stock is owned by hedge funds and other institutional investors.

About Innoviva

Innoviva, Inc is a healthcare company focused on developing, commercializing and managing medicines, with an emphasis on respiratory and hospital-based therapies. The company’s business model includes royalty interests in marketed products as well as ownership and investment in companies developing or commercializing innovative treatments.

Innoviva receives royalty revenue from respiratory medicines developed in collaboration with GlaxoSmithKline, including Trelegy Ellipta, Anoro Ellipta and Relvar/Breo Ellipta.