Innoviva (INVA) Stock Rating Lowered by ValuEngine

Innoviva (NASDAQ:INVA) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

INVA has been the subject of a number of other reports. Zacks Investment Research upgraded Innoviva from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Friday, February 8th. BidaskClub upgraded Innoviva from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $16.50.

Shares of INVA traded down $0.36 during mid-day trading on Wednesday, reaching $14.26. 1,841,700 shares of the company were exchanged, compared to its average volume of 1,490,160. Innoviva has a 52 week low of $13.26 and a 52 week high of $20.54. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 4.04 and a beta of 1.89.

Hedge funds have recently modified their holdings of the business. Oregon Public Employees Retirement Fund bought a new stake in Innoviva in the fourth quarter worth approximately $26,000. Financial Gravity Companies Inc. bought a new stake in Innoviva in the fourth quarter worth approximately $40,000. Fort L.P. bought a new stake in Innoviva in the fourth quarter worth approximately $90,000. Jane Street Group LLC bought a new stake in Innoviva in the second quarter worth approximately $147,000. Finally, First Quadrant L P CA increased its holdings in Innoviva by 506.7% in the third quarter. First Quadrant L P CA now owns 11,012 shares of the biotechnology company’s stock worth $168,000 after purchasing an additional 9,197 shares in the last quarter. Institutional investors and hedge funds own 75.77% of the company’s stock.

About Innoviva

Innoviva, Inc engages in the development and commercialization of bio-pharmaceuticals. Its portfolio of respiratory products include RELVAR/BREO ELLIPTA, (fluticasone furoate/ vilanterol, FF/VI); ANORO ELLIPTA (umeclidinium bromide/ vilanterol, UMEC/VI); and TRELEGY ELLIPTA (the combination FF/UMEC/VI).

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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