BidaskClub Upgrades Innoviva (INVA) to Buy

BidaskClub upgraded shares of Innoviva (NASDAQ:INVA) from a hold rating to a buy rating in a research report sent to investors on Thursday.

INVA has been the topic of several other research reports. Morgan Stanley reissued an underweight rating and issued a $8.00 target price (up previously from $7.00) on shares of Innoviva in a report on Friday, October 6th. Zacks Investment Research lowered Innoviva from a buy rating to a hold rating in a report on Monday, October 30th. Deutsche Bank initiated coverage on Innoviva in a report on Monday, November 20th. They set a hold rating and a $13.00 price objective on the stock. Robert W. Baird reaffirmed a hold rating and set a $13.00 price objective on shares of Innoviva in a report on Tuesday, October 24th. Finally, Cowen set a $16.00 price objective on Innoviva and gave the stock a buy rating in a report on Monday, October 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $13.50.

Innoviva (INVA) opened at $14.07 on Thursday. The company has a market capitalization of $1,500.00, a price-to-earnings ratio of 17.81 and a beta of 2.53. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of -2.59. Innoviva has a twelve month low of $10.29 and a twelve month high of $14.87.

Innoviva (NASDAQ:INVA) last posted its earnings results on Wednesday, October 25th. The biotechnology company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.13). The business had revenue of $48.64 million during the quarter, compared to analysts’ expectations of $57.18 million. Innoviva had a net margin of 52.91% and a negative return on equity of 33.55%. The business’s quarterly revenue was up 46.0% compared to the same quarter last year. During the same period last year, the company earned $0.13 EPS. equities analysts expect that Innoviva will post 1.08 EPS for the current fiscal year.

In other Innoviva news, CFO Eric Desparbes sold 15,285 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $13.28, for a total transaction of $202,984.80. Following the transaction, the chief financial officer now owns 337,027 shares of the company’s stock, valued at $4,475,718.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP George B. Abercrombie sold 5,215 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $13.26, for a total value of $69,150.90. Following the transaction, the vice president now directly owns 263,866 shares in the company, valued at approximately $3,498,863.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,522 shares of company stock worth $429,985. Corporate insiders own 1.60% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in shares of Innoviva by 5.3% during the second quarter. FMR LLC now owns 16,017,256 shares of the biotechnology company’s stock worth $205,021,000 after buying an additional 802,605 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Innoviva by 3.1% during the second quarter. Vanguard Group Inc. now owns 7,459,616 shares of the biotechnology company’s stock worth $95,483,000 after buying an additional 226,969 shares during the last quarter. Sarissa Capital Management LP grew its holdings in shares of Innoviva by 3.2% during the third quarter. Sarissa Capital Management LP now owns 3,600,705 shares of the biotechnology company’s stock worth $50,841,000 after buying an additional 110,000 shares during the last quarter. State Street Corp grew its holdings in shares of Innoviva by 14.7% during the second quarter. State Street Corp now owns 2,717,255 shares of the biotechnology company’s stock worth $34,782,000 after buying an additional 348,584 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Innoviva by 11.3% during the second quarter. Northern Trust Corp now owns 1,243,046 shares of the biotechnology company’s stock worth $15,911,000 after buying an additional 126,246 shares during the last quarter. 74.41% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: This news story was first published by Community Financial News and is the property of of Community Financial News. If you are viewing this news story on another publication, it was illegally stolen and republished in violation of U.S. & international copyright law. The legal version of this news story can be read at https://www.com-unik.info/2017/12/25/bidaskclub-upgrades-innoviva-inva-to-buy.html.

About Innoviva

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)).

Analyst Recommendations for Innoviva (NASDAQ:INVA)

Receive News & Ratings for Innoviva Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innoviva and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit