Innoviva (NASDAQ:INVA) Reaches New 52-Week High at $19.78

Shares of Innoviva, Inc. (NASDAQ:INVA - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $19.78 and last traded at $19.71, with a volume of 12244 shares. The stock had previously closed at $19.69.

Wall Street Analyst Weigh In

INVA has been the subject of a number of research analyst reports. StockNews.com lowered shares of Innoviva from a "strong-buy" rating to a "buy" rating in a report on Tuesday, August 6th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Innoviva in a report on Tuesday, July 30th.

Innoviva Stock Down 1.4 %

The company has a market capitalization of $1.21 billion, a PE ratio of 8.74 and a beta of 0.57. The business has a 50-day moving average of $18.05 and a 200 day moving average of $16.32. The company has a debt-to-equity ratio of 0.67, a current ratio of 12.70 and a quick ratio of 11.40.

Innoviva (NASDAQ:INVA - Get Free Report) last posted its earnings results on Wednesday, July 31st. The biotechnology company reported $0.68 EPS for the quarter. The firm had revenue of $99.90 million during the quarter. Innoviva had a return on equity of 33.26% and a net margin of 44.00%. Equities research analysts predict that Innoviva, Inc. will post 0.5 earnings per share for the current year.

Hedge Funds Weigh In On Innoviva

A number of institutional investors and hedge funds have recently modified their holdings of INVA. Texas Permanent School Fund Corp lifted its stake in Innoviva by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 49,358 shares of the biotechnology company's stock worth $752,000 after purchasing an additional 662 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Innoviva by 6.2% during the 1st quarter. ProShare Advisors LLC now owns 16,150 shares of the biotechnology company's stock worth $246,000 after acquiring an additional 942 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of Innoviva by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 59,853 shares of the biotechnology company's stock worth $982,000 after acquiring an additional 980 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Innoviva by 13.2% during the 4th quarter. Quadrant Capital Group LLC now owns 9,042 shares of the biotechnology company's stock valued at $145,000 after acquiring an additional 1,056 shares during the period. Finally, Principal Financial Group Inc. grew its position in Innoviva by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 323,991 shares of the biotechnology company's stock valued at $4,938,000 after acquiring an additional 1,121 shares during the last quarter. Hedge funds and other institutional investors own 99.12% of the company's stock.

Innoviva Company Profile

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.