Innoviva (NASDAQ:INVA) Stock Rating Upgraded by StockNews.com

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

Separately, Scotiabank initiated coverage on Innoviva in a research note on Friday. They issued a “sector outperform” rating and a $55.00 target price on the stock.

Innoviva Trading Up 0.3 %

Shares of INVA opened at $17.64 on Friday. The firm has a market cap of $1.10 billion, a P/E ratio of 25.57 and a beta of 0.56. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.79 and a quick ratio of 1.64. Innoviva has a 1 year low of $14.33 and a 1 year high of $21.28. The company has a 50 day simple moving average of $18.03 and a two-hundred day simple moving average of $18.82.

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

Insider Buying and Selling at Innoviva

In other news, major shareholder Alexander J. Denner sold 151,175 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $17.63, for a total transaction of $2,665,215.25. Following the transaction, the insider now owns 7,125,825 shares in the company, valued at $125,628,294.75. This represents a 2.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Innoviva

Hedge funds have recently modified their holdings of the stock. US Bancorp DE increased its holdings in shares of 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 acquiring an additional 566 shares in the last quarter. KBC Group NV increased its holdings in shares of 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 acquiring an additional 1,743 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of 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 acquiring an additional 2,128 shares in the last quarter. FMR LLC increased its holdings in shares of Innoviva by 8.2% during the third quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock valued at $195,000 after acquiring an additional 771 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Innoviva during the fourth quarter valued at about $176,000. 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.