Innoviva (NASDAQ:INVA) Upgraded at StockNews.com

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

Innoviva Price Performance

Shares of NASDAQ:INVA opened at $18.42 on Wednesday. The company’s fifty day moving average is $18.23 and its two-hundred day moving average is $18.89. The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38. Innoviva has a 12-month low of $14.32 and a 12-month high of $21.28. The company has a market cap of $1.15 billion, a P/E ratio of 26.70 and a beta of 0.55.

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 the consensus estimate of $0.27 by ($0.25). Innoviva had a net margin of 18.31% and a return on equity of 20.84%. The firm had revenue of $89.51 million for the quarter. Equities analysts expect that Innoviva will post 0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Innoviva

Hedge funds have recently modified their holdings of the stock. Barclays PLC increased its stake in shares of Innoviva by 254.2% in the third quarter. Barclays PLC now owns 100,594 shares of the biotechnology company’s stock worth $1,942,000 after acquiring an additional 72,192 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Innoviva by 46.4% in the third quarter. Jane Street Group LLC now owns 136,361 shares of the biotechnology company’s stock worth $2,633,000 after acquiring an additional 43,218 shares during the last quarter. FMR LLC increased its stake in shares of Innoviva by 8.2% in the third quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock worth $195,000 after acquiring an additional 771 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Innoviva in the third quarter worth $715,000. Finally, Victory Capital Management Inc. increased its stake in shares of Innoviva by 3.5% in the third quarter. Victory Capital Management Inc. now owns 140,454 shares of the biotechnology company’s stock worth $2,712,000 after acquiring an additional 4,699 shares during the last quarter. 99.12% of the stock is owned by institutional investors and hedge funds.

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.