Innoviva, Inc. (NASDAQ:INVA) has received an average recommendation of “Hold” from the six analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $12.33.
INVA has been the topic of a number of research reports. ValuEngine raised shares of Innoviva from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research lowered shares of Innoviva from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Cowen and Company set a $16.00 price objective on shares of Innoviva and gave the stock a “buy” rating in a research report on Friday, July 28th. Robert W. Baird reaffirmed a “neutral” rating and set a $13.00 price target (up from $11.00) on shares of Innoviva in a research report on Thursday, July 27th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $15.00 price target on shares of Innoviva in a research report on Friday, July 28th.
Innoviva (NASDAQ:INVA) last announced its quarterly earnings data on Wednesday, October 25th. The biotechnology company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.13). The business had revenue of $48.64 million during the quarter, compared to the consensus estimate of $57.18 million. Innoviva had a negative return on equity of 33.55% and a net margin of 52.91%. The business’s revenue for the quarter was up 46.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 EPS.
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Hedge funds and other institutional investors have recently bought and sold shares of the business. Smith Asset Management Group LP increased its holdings in shares of Innoviva by 15.1% in the third quarter. Smith Asset Management Group LP now owns 267,335 shares of the biotechnology company’s stock valued at $3,775,000 after purchasing an additional 35,055 shares during the last quarter. USA Financial Portformulas Corp acquired a new position in shares of Innoviva in the third quarter valued at $946,000. American Century Companies Inc. increased its holdings in shares of Innoviva by 3.1% in the third quarter. American Century Companies Inc. now owns 586,924 shares of the biotechnology company’s stock valued at $8,287,000 after purchasing an additional 17,581 shares during the last quarter. Stevens Capital Management LP acquired a new position in shares of Innoviva in the third quarter valued at $237,000. Finally, Chicago Equity Partners LLC increased its holdings in shares of Innoviva by 15.4% in the third quarter. Chicago Equity Partners LLC now owns 527,660 shares of the biotechnology company’s stock valued at $7,451,000 after purchasing an additional 70,330 shares during the last quarter. 69.73% of the stock is currently owned by hedge funds and other institutional investors.
Innoviva Company Profile
Innoviva, Inc, formerly Theravance, Inc, is engaged in the development, commercialization and financial management of bio-pharmaceuticals. It focuses on the respiratory assets partnered with Glaxo Group Limited (GSK), including RELVAR/BREO ELLIPTA (fluticasone furoate (FF)/vilanterol (VI)) and ANORO ELLIPTA (umeclidinium bromide/vilanterol (UMEC/VI)).
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