Innoviva (NASDAQ:INVA – Get Free Report) released its quarterly earnings results on Wednesday. The biotechnology company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($1.55), FiscalAI reports. Innoviva had a net margin of 44.13% and a return on equity of 22.39%. The company had revenue of $106.12 million for the quarter, compared to the consensus estimate of $115.31 million.
Innoviva Price Performance
NASDAQ INVA traded down $0.14 on Friday, reaching $19.10. The company had a trading volume of 1,654,268 shares, compared to its average volume of 788,318. The company has a quick ratio of 15.18, a current ratio of 16.01 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $1.38 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 3.07 and a beta of 0.38. The firm’s 50 day moving average price is $20.95 and its 200 day moving average price is $21.87. Innoviva has a 12 month low of $19.00 and a 12 month high of $25.15.
Analyst Ratings Changes
Several equities analysts have weighed in on the stock. Zacks Research raised shares of Innoviva from a “strong sell” rating to a “hold” rating in a report on Monday, August 31st. Weiss Ratings cut Innoviva from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 24th. Cantor Fitzgerald decreased their target price on Innoviva from $36.00 to $34.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Oppenheimer decreased their target price on Innoviva from $35.00 to $34.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Wall Street Zen cut Innoviva from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Innoviva has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.
Check Out Our Latest Stock Report on Innoviva
About Innoviva
Innoviva, Inc is a healthcare company focused on developing, commercializing and managing medicines, with an emphasis on respiratory and hospital-based therapies. The company’s business model includes royalty interests in marketed products as well as ownership and investment in companies developing or commercializing innovative treatments.
Innoviva receives royalty revenue from respiratory medicines developed in collaboration with GlaxoSmithKline, including Trelegy Ellipta, Anoro Ellipta and Relvar/Breo Ellipta.
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