Innoviva, Inc. (NASDAQ:INVA) Stock Has Average Target Price of $39.25 According to Analysts

Innoviva, Inc. (NASDAQ:INVA) has been given a consensus rating of “Moderate Buy” by the six analysts that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $39.25.

Several research firms recently issued reports on INVA. Oppenheimer began coverage on Innoviva in a report on Wednesday, September 23rd. They issued an “outperform” rating and a $35.00 price objective on the stock. Wall Street Zen lowered shares of Innoviva from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. BTIG Research restated a “buy” rating and issued a $42.00 price objective on shares of Innoviva in a report on Monday, June 22nd. Cantor Fitzgerald cut their target price on shares of Innoviva from $36.00 to $34.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Finally, Weiss Ratings downgraded shares of Innoviva from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, September 24th.

Innoviva Price Performance

Shares of INVA opened at $20.97 on Friday. The firm has a 50-day simple moving average of $20.98 and a two-hundred day simple moving average of $21.99. The stock has a market cap of $1.52 billion, a PE ratio of 5.12, a P/E/G ratio of 2.99 and a beta of 0.38. Innoviva has a 1-year low of $16.52 and a 1-year high of $25.15. The company has a debt-to-equity ratio of 0.21, a current ratio of 16.01 and a quick ratio of 15.18.

Institutional Trading of Innoviva

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Innoviva in the 2nd quarter valued at approximately $77,562,000. Bank of America Corp DE acquired a new position in Innoviva during the second quarter worth $37,873,000. Deutsche Bank AG acquired a new position in Innoviva during the second quarter worth $20,847,000. William Blair Investment Management LLC acquired a new position in Innoviva during the second quarter worth $14,584,000. Finally, Bank of New York Mellon Corp purchased a new stake in Innoviva during the second quarter worth $11,607,000. 99.12% of the stock is currently owned by institutional investors and hedge funds.

About Innoviva

Innoviva, Inc is a healthcare company focused on acquiring, developing and commercializing pharmaceutical assets, with a particular emphasis on medicines for respiratory and infectious diseases. The company generates a substantial portion of its business through royalty interests in marketed products and also invests in healthcare companies and development-stage therapies.

Innoviva holds royalty rights related to several respiratory medicines developed in collaboration with GlaxoSmithKline, including Trelegy Ellipta, Anoro Ellipta and Breo Ellipta, which is marketed as Relvar Ellipta in some international markets.