Innoviva (NASDAQ:INVA) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Saturday.

INVA has been the subject of several other research reports. ValuEngine raised Innoviva from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research cut Innoviva from a “buy” rating to a “hold” rating in a research note on Wednesday. TheStreet raised Innoviva from a “c+” rating to a “b” rating in a research note on Friday, February 9th. Berenberg Bank began coverage on Innoviva in a research note on Thursday, April 19th. They issued a “buy” rating for the company. Finally, Stifel Nicolaus decreased their price target on Innoviva from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $13.67.

Innoviva stock opened at $14.23 on Friday. The company has a quick ratio of 5.77, a current ratio of 5.77 and a debt-to-equity ratio of -2.37. The stock has a market capitalization of $1,491.72, a price-to-earnings ratio of 12.16 and a beta of 2.17. Innoviva has a 12 month low of $11.02 and a 12 month high of $17.99.

Innoviva (NASDAQ:INVA) last posted its earnings results on Thursday, April 26th. The biotechnology company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.23). The firm had revenue of $52.40 million during the quarter, compared to the consensus estimate of $71.84 million. Innoviva had a net margin of 61.76% and a negative return on equity of 48.93%. Innoviva’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 earnings per share. research analysts anticipate that Innoviva will post 2.25 EPS for the current year.

In other news, VP George B. Abercrombie sold 8,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $16.51, for a total value of $132,080.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric Desparbes sold 5,378 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $16.52, for a total value of $88,844.56. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meadow Creek Investment Management LLC grew its stake in Innoviva by 30.0% during the fourth quarter. Meadow Creek Investment Management LLC now owns 14,084 shares of the biotechnology company’s stock worth $200,000 after purchasing an additional 3,248 shares during the period. Xact Kapitalforvaltning AB acquired a new stake in Innoviva during the fourth quarter worth approximately $201,000. Caxton Associates LP acquired a new stake in Innoviva during the fourth quarter worth approximately $256,000. Aperio Group LLC grew its stake in Innoviva by 24.0% during the fourth quarter. Aperio Group LLC now owns 24,852 shares of the biotechnology company’s stock worth $353,000 after purchasing an additional 4,808 shares during the period. Finally, Macquarie Group Ltd. grew its stake in Innoviva by 149.0% during the fourth quarter. Macquarie Group Ltd. now owns 25,400 shares of the biotechnology company’s stock worth $360,000 after purchasing an additional 15,200 shares during the period. 75.28% of the stock is owned by institutional investors and hedge funds.

Innoviva Company Profile

Innoviva, Inc engages in the development and commercialization of bio-pharmaceuticals. Its portfolio of respiratory products include RELVAR/BREO ELLIPTA, (fluticasone furoate/ vilanterol, FF/VI); ANORO ELLIPTA (umeclidinium bromide/ vilanterol, UMEC/VI); and TRELEGY ELLIPTA (the combination FF/UMEC/VI).

Analyst Recommendations for Innoviva (NASDAQ:INVA)

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