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

Innoviva (NASDAQ:INVA) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

Separately, Scotiabank assumed coverage on Innoviva in a research note on Friday, March 7th. They set a “sector outperform” rating and a $55.00 price objective for the company.

Innoviva Trading Up 0.3 %

NASDAQ INVA opened at $17.38 on Monday. Innoviva has a twelve month low of $14.33 and a twelve month high of $21.28. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 25.19 and a beta of 0.56. 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 firm’s 50 day moving average price is $18.02 and its two-hundred day moving average price is $18.67.

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. The firm had revenue of $91.81 million during the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. Equities analysts anticipate that Innoviva will post 0.33 EPS for the current year.

Insider Transactions at Innoviva

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

Institutional Trading of Innoviva

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of 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 buying an additional 84,934 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Innoviva by 4.8% in 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 during the last quarter. Pacer Advisors Inc. grew its stake in shares of Innoviva by 4.3% during the fourth quarter. Pacer Advisors Inc. now owns 2,932,113 shares of the biotechnology company’s stock worth $50,872,000 after buying an additional 121,162 shares during the last quarter. Systematic Financial Management LP grew its holdings in shares of 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 purchasing an additional 49,996 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Innoviva by 35.2% in 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. Institutional investors and hedge funds 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.