StockNews.com Downgrades Innoviva (NASDAQ:INVA) to Hold

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

Innoviva Stock Performance

NASDAQ:INVA opened at $18.08 on Friday. The stock has a market cap of $1.13 billion, a P/E ratio of 26.20 and a beta of 0.55. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. The stock has a 50 day simple moving average of $18.06 and a 200 day simple moving average of $18.86. Innoviva has a 1-year low of $14.32 and a 1-year high of $21.28.

Hedge Funds Weigh In On Innoviva

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INVA. US Bancorp DE raised its holdings in Innoviva by 24.5% in the 3rd quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company's stock valued at $56,000 after acquiring an additional 566 shares in the last quarter. KBC Group NV raised its holdings in Innoviva by 73.9% in the 4th 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 in the last quarter. Tower Research Capital LLC TRC raised its holdings in Innoviva by 75.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,962 shares of the biotechnology company's stock valued at $86,000 after acquiring an additional 2,128 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in Innoviva in the 4th quarter valued at $176,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Innoviva in the 4th quarter valued at $184,000. 99.12% of the stock is owned by institutional investors and hedge funds.

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.

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