Innoviva (NASDAQ:INVA) Upgraded by StockNews.com to Buy Rating

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

Innoviva Stock Down 0.5 %

Shares of NASDAQ:INVA opened at $18.23 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38. The firm has a market cap of $1.14 billion, a P/E ratio of 26.42 and a beta of 0.55. Innoviva has a 12 month low of $14.32 and a 12 month high of $21.28. The company’s 50-day moving average price is $18.25 and its two-hundred day moving average price is $18.89.

Innoviva (NASDAQ:INVA) last announced its earnings results on Wednesday, November 6th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.25). The company had revenue of $89.51 million for the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. As a group, research analysts forecast that Innoviva will post 0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Martingale Asset Management L P lifted its stake in shares of Innoviva by 0.7% during the third quarter. Martingale Asset Management L P now owns 77,842 shares of the biotechnology company’s stock valued at $1,503,000 after acquiring an additional 550 shares during the period. US Bancorp DE raised its holdings in Innoviva by 24.5% during the 3rd quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 566 shares during the last quarter. GAMMA Investing LLC raised its holdings in Innoviva by 18.5% during the 3rd quarter. GAMMA Investing LLC now owns 4,119 shares of the biotechnology company’s stock worth $80,000 after purchasing an additional 643 shares during the last quarter. FMR LLC lifted its position in Innoviva by 8.2% during the 3rd quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock valued at $195,000 after purchasing an additional 771 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its stake in shares of Innoviva by 2.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 29,066 shares of the biotechnology company’s stock valued at $504,000 after purchasing an additional 784 shares during the last quarter. 99.12% of the stock is currently owned by 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.