Innoviva (NASDAQ:INVA) Rating Lowered to Hold at StockNews.com

Innoviva (NASDAQ:INVA) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Innoviva Trading Down 0.8 %

Shares of INVA stock opened at $18.08 on Thursday. Innoviva has a 1 year low of $14.32 and a 1 year high of $21.28. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.79 and a quick ratio of 1.64. The stock’s 50 day simple moving average is $18.13 and its two-hundred day simple moving average is $18.89. The company has a market cap of $1.13 billion, a PE ratio of 26.20 and a beta of 0.55.

Institutional Investors Weigh In On Innoviva

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE raised its position in Innoviva by 24.5% during the third quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 566 shares during the period. KBC Group NV raised its position in Innoviva by 73.9% during the fourth quarter. KBC Group NV now owns 4,100 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 1,743 shares during the period. Tower Research Capital LLC TRC raised its position in Innoviva by 75.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,962 shares of the biotechnology company’s stock valued at $86,000 after purchasing an additional 2,128 shares during the period. New Age Alpha Advisors LLC purchased a new stake in shares of Innoviva in the fourth quarter worth approximately $176,000. Finally, FMR LLC raised its holdings 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 buying an additional 771 shares during the period. 99.12% of the stock is currently owned by hedge funds and other 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.