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

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

Innoviva Stock Performance

Shares of NASDAQ INVA opened at $17.35 on Tuesday. The company has a market cap of $1.09 billion, a P/E ratio of 25.15 and a beta of 0.53. Innoviva has a 52-week low of $14.32 and a 52-week high of $21.28. 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 fifty day moving average is $18.93 and its two-hundred day moving average is $18.60.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.25). The firm had revenue of $89.51 million for the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. As a group, analysts anticipate that Innoviva will post 0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Martingale Asset Management L P raised its stake in Innoviva by 0.7% during the third quarter. Martingale Asset Management L P now owns 77,842 shares of the biotechnology company’s stock valued at $1,503,000 after purchasing an additional 550 shares in the last quarter. US Bancorp DE increased its holdings in shares of Innoviva by 24.5% in 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. GAMMA Investing LLC raised its position in shares of Innoviva by 18.5% during the 3rd quarter. GAMMA Investing LLC now owns 4,119 shares of the biotechnology company’s stock valued at $80,000 after buying an additional 643 shares in the last quarter. FMR LLC lifted 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 valued at $195,000 after acquiring an additional 771 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its position in Innoviva by 10.9% in the second quarter. Evergreen Capital Management LLC now owns 12,321 shares of the biotechnology company’s stock worth $202,000 after acquiring an additional 1,209 shares in the last quarter. 99.12% of the stock is currently owned by institutional investors.

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.