Innoviva (INVA) Earning Somewhat Favorable News Coverage, Study Shows

Press coverage about Innoviva (NASDAQ:INVA) has been trending somewhat positive on Friday, according to Accern. Accern identifies negative and positive news coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Innoviva earned a media sentiment score of 0.11 on Accern’s scale. Accern also gave media headlines about the biotechnology company an impact score of 45.1603744621227 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.

A number of brokerages have weighed in on INVA. Morgan Stanley reaffirmed an “underweight” rating and issued a $8.00 price objective (up previously from $7.00) on shares of Innoviva in a report on Friday, October 6th. ValuEngine raised Innoviva from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. BidaskClub raised Innoviva from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Stifel Nicolaus reaffirmed a “neutral” rating on shares of Innoviva in a report on Friday, September 15th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $13.00 price objective on shares of Innoviva in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $13.50.

Shares of Innoviva (INVA) opened at $14.07 on Friday. The company has a market capitalization of $1,520.00, a P/E ratio of 17.81 and a beta of 2.52. The company has a debt-to-equity ratio of -2.59, a quick ratio of 6.71 and a current ratio of 6.71. Innoviva has a 52 week low of $10.30 and a 52 week high of $14.87.

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

In other news, CFO Eric Desparbes sold 15,285 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $13.28, for a total transaction of $202,984.80. Following the sale, the chief financial officer now owns 337,027 shares of the company’s stock, valued at approximately $4,475,718.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP George B. Abercrombie sold 5,215 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $13.26, for a total value of $69,150.90. Following the sale, 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. Insiders have sold a total of 32,522 shares of company stock worth $429,985 in the last three months. Corporate insiders own 1.60% of the company’s stock.

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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)).

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