Innoviva (NASDAQ:INVA) Lowered to “Hold” Rating by StockNews.com

StockNews.com cut shares of Innoviva (NASDAQ:INVA) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Separately, Scotiabank began coverage on shares of Innoviva in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 target price on the stock.

Innoviva Trading Up 0.1 %

Shares of Innoviva stock opened at $18.08 on Tuesday. The company has a fifty day moving average of $17.95 and a 200 day moving average of $18.61. The company has a market capitalization of $1.13 billion, a P/E ratio of 26.20 and a beta of 0.56. Innoviva has a fifty-two week low of $14.33 and a fifty-two week high of $21.28. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 1.79.

Innoviva (NASDAQ:INVA) last posted its earnings results on Wednesday, February 26th. The biotechnology company reported $0.57 earnings per share for the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. The firm had revenue of $91.81 million during the quarter. On average, sell-side analysts anticipate that Innoviva will post 0.33 earnings per share for the current fiscal year.

Insider Activity

In other Innoviva news, major shareholder Alexander J. Denner sold 151,175 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $17.63, for a total transaction of $2,665,215.25. Following the sale, the insider now directly owns 7,125,825 shares of the company’s stock, valued at approximately $125,628,294.75. This trade represents a 2.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Innoviva

Several hedge funds and other institutional investors have recently bought and sold shares of INVA. Vanguard Group Inc. lifted its holdings in Innoviva by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 6,312,631 shares of the biotechnology company’s stock valued at $109,524,000 after acquiring an additional 84,934 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Innoviva by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,919,518 shares of the biotechnology company’s stock valued at $85,354,000 after purchasing an additional 226,592 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Innoviva by 4.3% in the 4th quarter. Pacer Advisors Inc. now owns 2,932,113 shares of the biotechnology company’s stock valued at $50,872,000 after purchasing an additional 121,162 shares during the period. Systematic Financial Management LP boosted its holdings in Innoviva by 2.5% during the fourth quarter. Systematic Financial Management LP now owns 2,029,069 shares of the biotechnology company’s stock worth $35,204,000 after buying an additional 49,996 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Innoviva by 35.2% during the fourth quarter. American Century Companies Inc. now owns 1,424,315 shares of the biotechnology company’s stock valued at $24,712,000 after buying an additional 370,795 shares during the period. 99.12% of the stock is owned by institutional investors and hedge funds.

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.