Innoviva (NASDAQ:INVA) was upgraded by TheStreet from a “c+” rating to a “b” rating in a research report issued to clients and investors on Friday.

A number of other equities research analysts have also recently weighed in on INVA. Cowen set a $16.00 price objective on Innoviva and gave the company a “buy” rating in a research note on Monday, October 23rd. Robert W. Baird reiterated a “hold” rating and issued a $13.00 target price on shares of Innoviva in a report on Tuesday, October 24th. Zacks Investment Research upgraded Innoviva from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Wednesday, October 25th. Deutsche Bank started coverage on Innoviva in a report on Monday, November 20th. They issued a “hold” rating and a $13.00 target price for the company. Finally, BidaskClub upgraded Innoviva from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Innoviva has an average rating of “Hold” and an average price target of $13.83.

Shares of Innoviva (INVA) opened at $15.45 on Friday. Innoviva has a one year low of $11.02 and a one year high of $16.11. The company has a quick ratio of 6.71, a current ratio of 20.49 and a debt-to-equity ratio of -2.47. The firm has a market capitalization of $1,666.67, a price-to-earnings ratio of 13.92 and a beta of 2.52.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data on Thursday, February 8th. The biotechnology company reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. Innoviva had a negative return on equity of 48.93% and a net margin of 61.76%. The business had revenue of $69.52 million during the quarter, compared to analysts’ expectations of $67.41 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The company’s revenue was up 59.4% on a year-over-year basis. sell-side analysts predict that Innoviva will post 2.01 EPS for the current fiscal year.

In other Innoviva news, insider Michael W. Aguiar sold 12,022 shares of Innoviva stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $13.13, for a total transaction of $157,848.86. Following the completion of the sale, the insider now directly owns 980,907 shares of the company’s stock, valued at approximately $12,879,308.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Eric Desparbes sold 15,285 shares of Innoviva stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $13.28, for a total value of $202,984.80. Following the sale, the chief financial officer now directly owns 337,027 shares of the company’s stock, valued at $4,475,718.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,522 shares of company stock valued at $429,985. 1.60% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in INVA. Teachers Advisors LLC lifted its holdings in Innoviva by 17.5% during the 2nd quarter. Teachers Advisors LLC now owns 159,667 shares of the biotechnology company’s stock worth $2,044,000 after buying an additional 23,819 shares during the last quarter. TIAA CREF Investment Management LLC lifted its holdings in Innoviva by 38.9% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 310,316 shares of the biotechnology company’s stock worth $3,972,000 after buying an additional 86,864 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Innoviva by 36.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 557,455 shares of the biotechnology company’s stock worth $7,135,000 after buying an additional 147,765 shares during the last quarter. Northern Trust Corp lifted its holdings in Innoviva by 11.3% during the 2nd quarter. Northern Trust Corp now owns 1,243,046 shares of the biotechnology company’s stock worth $15,911,000 after buying an additional 126,246 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Innoviva by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 7,459,616 shares of the biotechnology company’s stock worth $95,483,000 after buying an additional 226,969 shares during the last quarter. 74.22% of the stock is owned by institutional investors.

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Innoviva Company Profile

Innoviva, Inc, formerly Theravance, Inc, is engaged in the development, commercialization and financial management of bio-pharmaceuticals. It focuses on the respiratory assets partnered with Glaxo Group Limited (GSK), including RELVAR/BREO ELLIPTA (fluticasone furoate (FF)/vilanterol (VI)) and ANORO ELLIPTA (umeclidinium bromide/vilanterol (UMEC/VI)).

Analyst Recommendations for Innoviva (NASDAQ:INVA)

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