Innoviva (NASDAQ:INVA) Raised to Buy at StockNews.com

Innoviva (NASDAQ:INVA) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Separately, Scotiabank initiated coverage on shares of Innoviva in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 price target for the company.

Innoviva Trading Up 0.3 %

Shares of INVA stock traded up $0.06 during trading hours on Monday, hitting $17.33. 835,483 shares of the company were exchanged, compared to its average volume of 587,476. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 1.79. Innoviva has a fifty-two week low of $14.33 and a fifty-two week high of $21.28. The company has a 50 day simple moving average of $18.03 and a two-hundred day simple moving average of $18.68. The firm has a market cap of $1.09 billion, a P/E ratio of 25.12 and a beta of 0.56.

Innoviva (NASDAQ:INVA) last released its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.57 earnings per share (EPS) for the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. The company had revenue of $91.81 million for the quarter. Equities analysts anticipate that Innoviva will post 0.33 EPS for the current year.

Insider Activity at Innoviva

In related news, major shareholder Alexander J. Denner sold 151,175 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $17.63, for a total value of $2,665,215.25. Following the completion of the sale, the insider now directly owns 7,125,825 shares of the company’s stock, valued at approximately $125,628,294.75. This represents a 2.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by insiders.

Institutional Trading of Innoviva

Institutional investors have recently made changes to their positions in the company. KBC Group NV lifted its position in shares of Innoviva by 73.9% during the fourth quarter. KBC Group NV now owns 4,100 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 1,743 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Innoviva by 75.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,962 shares of the biotechnology company’s stock worth $86,000 after buying an additional 2,128 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Innoviva in the fourth quarter valued at approximately $176,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Innoviva during the fourth quarter valued at approximately $184,000. Finally, FMR LLC lifted its holdings in Innoviva by 8.2% during the third quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock worth $195,000 after acquiring an additional 771 shares during the period. Institutional investors own 99.12% of the company’s stock.

About Innoviva

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.