Shares of Innoviva, Inc. (NASDAQ:INVA – Get Free Report) have received an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $36.20.
INVA has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating and set a $46.00 target price on shares of Innoviva in a research report on Monday, June 1st. Wall Street Zen raised shares of Innoviva from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Innoviva in a research note on Wednesday, June 24th. Finally, BTIG Research reissued a “buy” rating and set a $42.00 price objective on shares of Innoviva in a report on Monday, June 22nd.
Read Our Latest Analysis on Innoviva
Innoviva Price Performance
Innoviva (NASDAQ:INVA – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $97.99 million for the quarter, compared to analyst estimates of $101.57 million. Innoviva had a net margin of 119.89% and a return on equity of 33.33%. On average, research analysts expect that Innoviva will post 2.2 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC increased its holdings in Innoviva by 82.8% in the 1st quarter. Parallel Advisors LLC now owns 1,179 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 534 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Innoviva by 297.7% during the second quarter. EverSource Wealth Advisors LLC now owns 2,398 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 1,795 shares during the last quarter. Danske Bank A S purchased a new stake in Innoviva during the third quarter valued at about $55,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Innoviva by 49.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,633 shares of the biotechnology company’s stock worth $73,000 after purchasing an additional 1,197 shares during the period. Finally, Lazard Asset Management LLC bought a new position in Innoviva during the second quarter worth about $92,000. Hedge funds and other institutional investors own 99.12% of the company’s stock.
Innoviva Company Profile
Innoviva, Inc, incorporated in Delaware and headquartered in San Francisco, California, is a royalty-focused life sciences company. It acquires, manages and monetizes royalty and license interests in biopharmaceutical products, with a primary emphasis on inhaled respiratory therapies. Innoviva’s portfolio is anchored by royalties on therapies originally developed by its former affiliate, now marketed by GlaxoSmithKline, including several long-acting inhaled products approved for chronic obstructive pulmonary disease (COPD) and asthma.
The company was established through a spin‐out transaction in 2014, separating the royalty assets from a research‐based biopharmaceutical enterprise to create a specialized investment vehicle.
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