Innoviva (NASDAQ:INVA) Stock Rating Lowered by StockNews.com

Innoviva (NASDAQ:INVA) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday.

Separately, Cantor Fitzgerald initiated coverage on shares of Innoviva in a research note on Tuesday, June 18th. They set an “overweight” rating for the company.

Innoviva Stock Performance

INVA stock opened at $18.19 on Wednesday. Innoviva has a twelve month low of $12.22 and a twelve month high of $18.56. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 8.32 and a beta of 0.57. The business’s fifty day simple moving average is $16.31 and its two-hundred day simple moving average is $15.75. The company has a quick ratio of 9.17, a current ratio of 10.42 and a debt-to-equity ratio of 0.63.

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

Institutional Trading of Innoviva

Hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in shares of Innoviva by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,516,999 shares of the biotechnology company’s stock valued at $72,454,000 after purchasing an additional 66,295 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Innoviva by 27.8% during the fourth quarter. Westfield Capital Management Co. LP now owns 2,614,127 shares of the biotechnology company’s stock valued at $41,931,000 after purchasing an additional 569,117 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Innoviva by 17.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 933,259 shares of the biotechnology company’s stock valued at $14,969,000 after buying an additional 135,456 shares during the period. Boston Partners raised its stake in Innoviva by 90.3% in the first quarter. Boston Partners now owns 391,456 shares of the biotechnology company’s stock worth $5,966,000 after buying an additional 185,784 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Innoviva by 0.3% during the first 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 period. 99.12% of the stock is owned by hedge funds and other 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.