Innoviva, Inc. (NASDAQ:INVA – Get Free Report) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 8,970,000 shares, a growth of 5.8% from the October 15th total of 8,480,000 shares. Approximately 14.2% of the company’s stock are short sold. Based on an average daily volume of 644,600 shares, the days-to-cover ratio is currently 13.9 days.
Analysts Set New Price Targets
INVA has been the subject of a number of recent analyst reports. TheStreet cut Innoviva from a “b-” rating to a “c” rating in a research report on Friday, August 4th. StockNews.com upgraded Innoviva from a “hold” rating to a “buy” rating in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.17.
Institutional Trading of Innoviva
Innoviva Stock Performance
NASDAQ:INVA traded up $0.07 during trading hours on Friday, reaching $13.72. The company had a trading volume of 550,015 shares, compared to its average volume of 664,504. The company has a debt-to-equity ratio of 0.71, a current ratio of 8.43 and a quick ratio of 7.31. Innoviva has a 1-year low of $10.64 and a 1-year high of $14.08. The business’s 50 day moving average price is $13.05 and its 200-day moving average price is $12.98. The firm has a market cap of $879.31 million, a PE ratio of 31.02 and a beta of 0.50.
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; and TRELEGY ELLIPTA, a once-daily combination medicine consisting of an ICS, LAMA, and LABA.
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