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

Innoviva (NASDAQ:INVA) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Innoviva Stock Down 0.4 %

Shares of NASDAQ:INVA opened at $17.98 on Thursday. Innoviva has a 1-year low of $14.32 and a 1-year high of $21.28. The company’s fifty day moving average is $18.17 and its two-hundred day moving average is $18.90. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 1.79. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 26.06 and a beta of 0.55.

Institutional Trading of Innoviva

Several hedge funds have recently made changes to their positions in INVA. US Bancorp DE grew its stake in Innoviva by 24.5% during the 3rd quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company’s stock worth $56,000 after buying an additional 566 shares during the last quarter. KBC Group NV boosted 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 during the period. New Age Alpha Advisors LLC bought a new position in shares of Innoviva during the fourth quarter worth about $176,000. FMR LLC increased its holdings in shares of Innoviva by 8.2% in the 3rd quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock worth $195,000 after acquiring an additional 771 shares during the period. Finally, Walleye Capital LLC bought a new stake in Innoviva in the 3rd quarter valued at about $214,000. Institutional investors own 99.12% of the company’s stock.

About Innoviva

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.