Innoviva (NASDAQ:INVA) Sets New 12-Month High at $16.87

Shares of Innoviva, Inc. (NASDAQ:INVA) hit a new 52-week high on Wednesday . The stock traded as high as $16.87 and last traded at $16.87, with a volume of 182605 shares traded. The stock had previously closed at $16.60.

Analyst Upgrades and Downgrades

INVA has been the subject of several research reports. StockNews.com upgraded Innoviva from a “hold” rating to a “buy” rating in a report on Friday, March 29th. Cantor Fitzgerald assumed coverage on Innoviva in a research note on Tuesday, June 18th. They set an “overweight” rating for the company.

Innoviva Stock Down 0.2 %

The company has a debt-to-equity ratio of 0.63, a quick ratio of 9.17 and a current ratio of 10.42. The stock has a market capitalization of $1.04 billion, a PE ratio of 7.55 and a beta of 0.57. The business has a 50 day moving average of $16.01 and a two-hundred day moving average of $15.70.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported $0.46 earnings per share for the quarter. Innoviva had a return on equity of 28.94% and a net margin of 58.21%. The firm had revenue of $77.50 million during the quarter. Analysts predict that Innoviva, Inc. will post 1.09 EPS for the current year.

Institutional Investors Weigh In On Innoviva

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INVA. Bessemer Group Inc. raised its stake in Innoviva by 333.5% in the first quarter. Bessemer Group Inc. now owns 2,211 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 1,701 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Innoviva by 124.0% in the first quarter. GAMMA Investing LLC now owns 2,262 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 1,252 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in shares of Innoviva by 342.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,410 shares of the biotechnology company’s stock valued at $119,000 after purchasing an additional 5,736 shares during the period. SG Americas Securities LLC acquired a new position in shares of Innoviva in the first quarter valued at about $138,000. Finally, Quadrant Capital Group LLC increased its holdings in shares of Innoviva by 13.2% in the fourth quarter. Quadrant Capital Group LLC now owns 9,042 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 1,056 shares during the period. 99.12% of the stock is currently owned by hedge funds and other institutional investors.

Innoviva Company Profile

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.