Innoviva (NASDAQ:INVA) Rating Increased to Buy at StockNews.com

Innoviva (NASDAQ:INVA - Get Free Report) was upgraded by research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Wednesday.

Innoviva Trading Up 0.9 %

Shares of Innoviva stock traded up $0.16 during trading hours on Wednesday, hitting $18.42. The company's stock had a trading volume of 334,258 shares, compared to its average volume of 575,875. Innoviva has a 12 month low of $14.32 and a 12 month high of $21.28. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.79 and a quick ratio of 1.64. The company has a market capitalization of $1.15 billion, a PE ratio of 26.70 and a beta of 0.55. The stock has a 50 day moving average of $18.22 and a 200 day moving average of $18.91.

Innoviva (NASDAQ:INVA - Get Free Report) last announced its earnings results on Wednesday, November 6th. The biotechnology company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.25). The company had revenue of $89.51 million for the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. Analysts predict that Innoviva will post 0.33 earnings per share for the current year.

Institutional Investors Weigh In On Innoviva

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its stake in shares of Innoviva by 254.2% in the 3rd quarter. Barclays PLC now owns 100,594 shares of the biotechnology company's stock valued at $1,942,000 after purchasing an additional 72,192 shares during the period. Jane Street Group LLC grew its holdings in shares of Innoviva by 46.4% during the third quarter. Jane Street Group LLC now owns 136,361 shares of the biotechnology company's stock worth $2,633,000 after buying an additional 43,218 shares in the last quarter. FMR LLC raised its position in 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 buying an additional 771 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in Innoviva in the 3rd quarter valued at approximately $715,000. Finally, Victory Capital Management Inc. boosted its position in Innoviva by 3.5% during the 3rd quarter. Victory Capital Management Inc. now owns 140,454 shares of the biotechnology company's stock worth $2,712,000 after acquiring an additional 4,699 shares during the last quarter. 99.12% of the stock is 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.