Innoviva (NASDAQ:INVA) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Innoviva (NASDAQ:INVA) from a buy rating to a hold rating in a report released on Thursday morning.

Innoviva Trading Up 1.3 %

NASDAQ:INVA opened at $18.22 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 1.79. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 26.41 and a beta of 0.55. Innoviva has a 52 week low of $14.32 and a 52 week high of $21.28. The firm has a 50-day moving average price of $18.17 and a two-hundred day moving average price of $18.90.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of INVA. US Bancorp DE grew its position in shares of Innoviva by 24.5% during the 3rd quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company’s stock valued at $56,000 after acquiring an additional 566 shares during the period. KBC Group NV grew its position in shares of Innoviva by 73.9% during the 4th quarter. KBC Group NV now owns 4,100 shares of the biotechnology company’s stock valued at $71,000 after acquiring an additional 1,743 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of Innoviva during the 4th quarter valued at approximately $176,000. FMR LLC grew its position in shares of 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 acquiring an additional 771 shares during the period. Finally, Walleye Capital LLC bought a new position in shares of Innoviva during the 3rd quarter valued at approximately $214,000. 99.12% of the stock is owned by institutional investors.

About Innoviva

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.