Innoviva (NASDAQ:INVA) Upgraded to “Buy” at StockNews.com

Innoviva (NASDAQ:INVA) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Innoviva Price Performance

INVA stock traded down $0.09 during trading hours on Wednesday, hitting $18.23. 650,415 shares of the stock traded hands, compared to its average volume of 594,083. Innoviva has a one year low of $14.32 and a one year high of $21.28. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. The company has a market cap of $1.14 billion, a P/E ratio of 26.42 and a beta of 0.55. The stock has a 50-day simple moving average of $18.25 and a 200 day simple moving average of $18.89.

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

Institutional Investors Weigh In On Innoviva

A number of institutional investors and hedge funds have recently modified their holdings of INVA. QRG Capital Management Inc. raised its position in shares of Innoviva by 4.4% during the fourth quarter. QRG Capital Management Inc. now owns 89,709 shares of the biotechnology company’s stock worth $1,556,000 after purchasing an additional 3,769 shares during the period. Illinois Municipal Retirement Fund boosted its position 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 period. Hussman Strategic Advisors Inc. increased its stake in Innoviva by 33.3% in the 4th quarter. Hussman Strategic Advisors Inc. now owns 168,000 shares of the biotechnology company’s stock worth $2,915,000 after purchasing an additional 42,000 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Innoviva by 3.8% during the 4th quarter. Principal Financial Group Inc. now owns 297,776 shares of the biotechnology company’s stock worth $5,166,000 after buying an additional 10,999 shares during the period. Finally, Rhumbline Advisers lifted its stake in Innoviva by 2.1% during the fourth quarter. Rhumbline Advisers now owns 187,318 shares of the biotechnology company’s stock valued at $3,250,000 after buying an additional 3,931 shares in the last quarter. Institutional investors and hedge funds own 99.12% of the company’s stock.

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.