Innoviva, Inc. (NASDAQ:INVA) Receives Consensus Rating of “Hold” from Analysts

Innoviva, Inc. (NASDAQ:INVA) has been given an average recommendation of “Hold” by the six research firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $34.75.

A number of research analysts have issued reports on INVA shares. Wall Street Zen cut Innoviva from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Cantor Fitzgerald dropped their target price on shares of Innoviva from $36.00 to $34.00 and set an “overweight” rating for the company in a report on Friday, August 7th. HC Wainwright restated a “buy” rating and issued a $46.00 price target on shares of Innoviva in a research note on Monday, June 1st. Zacks Research lowered shares of Innoviva from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Finally, Weiss Ratings cut shares of Innoviva from a “buy (b)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of INVA. Parallel Advisors LLC lifted its stake in shares of Innoviva by 82.8% in the 1st quarter. Parallel Advisors LLC now owns 1,179 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 534 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Innoviva during the 2nd quarter worth $30,000. Allworth Financial LP bought a new stake in Innoviva during the 2nd quarter worth $42,000. EverSource Wealth Advisors LLC increased its holdings in Innoviva by 297.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,398 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 1,795 shares in the last quarter. Finally, Mint Tower Capital Management B.V. acquired a new position in Innoviva in the 2nd quarter worth about $47,000. 99.12% of the stock is currently owned by institutional investors and hedge funds.

Innoviva Trading Down 1.3%

Shares of INVA opened at $20.96 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 15.18 and a current ratio of 16.01. Innoviva has a 52-week low of $16.52 and a 52-week high of $25.15. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 5.11 and a beta of 0.35. The business’s fifty day moving average is $21.69 and its 200-day moving average is $22.37.

Innoviva Company Profile

Innoviva, Inc, incorporated in Delaware and headquartered in San Francisco, California, is a royalty-focused life sciences company. It acquires, manages and monetizes royalty and license interests in biopharmaceutical products, with a primary emphasis on inhaled respiratory therapies. Innoviva’s portfolio is anchored by royalties on therapies originally developed by its former affiliate, now marketed by GlaxoSmithKline, including several long-acting inhaled products approved for chronic obstructive pulmonary disease (COPD) and asthma.

The company was established through a spin‐out transaction in 2014, separating the royalty assets from a research‐based biopharmaceutical enterprise to create a specialized investment vehicle.