Innoviva, Inc. (NASDAQ:INVA) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Innoviva, Inc. (NASDAQ:INVA) have been assigned an average recommendation of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $38.80.

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

Innoviva Price Performance

INVA stock opened at $21.80 on Monday. The stock’s 50 day moving average price is $20.12 and its 200 day moving average price is $19.63. The firm has a market cap of $1.63 billion, a P/E ratio of 15.91 and a beta of 0.44. The company has a debt-to-equity ratio of 0.25, a quick ratio of 13.33 and a current ratio of 14.12. Innoviva has a 1 year low of $16.52 and a 1 year high of $22.76.

Hedge Funds Weigh In On Innoviva

Several institutional investors have recently added to or reduced their stakes in INVA. Elevation Point Wealth Partners LLC acquired a new stake in Innoviva in the 2nd quarter worth about $43,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Innoviva by 297.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,398 shares of the biotechnology company’s stock worth $48,000 after acquiring an additional 1,795 shares during the period. Danske Bank A S acquired a new stake in shares of Innoviva in the third quarter worth approximately $55,000. Asset Management One Co. Ltd. acquired a new stake in shares of Innoviva in the third quarter worth approximately $60,000. Finally, Toth Financial Advisory Corp purchased a new stake in Innoviva in the third quarter valued at approximately $63,000. 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.