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

Shares of Innoviva, Inc. (NASDAQ:INVA) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $36.20.

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Innoviva in a research report on Friday, March 27th. Wall Street Zen raised shares of Innoviva from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. BTIG Research reissued a “buy” rating and issued a $42.00 target price on shares of Innoviva in a research report on Tuesday, May 26th. Finally, HC Wainwright reissued a “buy” rating and issued a $46.00 target price on shares of Innoviva in a research report on Monday, June 1st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of INVA. Vanguard Group Inc. raised its stake in Innoviva by 11.6% during the fourth 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 during the period. Arrowstreet Capital Limited Partnership lifted its holdings 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 worth $43,045,000 after acquiring an additional 650,151 shares during the last quarter. Boston Partners lifted its holdings in Innoviva by 63.6% in the third quarter. Boston Partners now owns 1,431,601 shares of the biotechnology company’s stock worth $26,125,000 after acquiring an additional 556,517 shares during the last quarter. Royce & Associates LP lifted its holdings in Innoviva by 641.2% in the third quarter. Royce & Associates LP now owns 505,906 shares of the biotechnology company’s stock worth $9,233,000 after acquiring an additional 437,654 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in Innoviva by 68.2% in the third quarter. Qube Research & Technologies Ltd now owns 1,023,534 shares of the biotechnology company’s stock worth $18,679,000 after acquiring an additional 414,889 shares during the last quarter. 99.12% of the stock is owned by institutional investors and hedge funds.

Innoviva Stock Performance

Innoviva stock opened at $22.74 on Friday. Innoviva has a 12-month low of $16.52 and a 12-month high of $25.15. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 3.78 and a beta of 0.35. The company has a debt-to-equity ratio of 0.19, a current ratio of 21.13 and a quick ratio of 20.07. The firm’s fifty day moving average price is $22.85 and its 200 day moving average price is $21.80.

Innoviva (NASDAQ:INVA) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $97.99 million during the quarter, compared to the consensus estimate of $101.57 million. Innoviva had a net margin of 119.89% and a return on equity of 33.33%. On average, research analysts forecast that Innoviva will post 2.23 EPS for the current fiscal year.

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.