Innoviva (NASDAQ:INVA) Trading 2.2% Higher – What’s Next?

Innoviva, Inc. (NASDAQ:INVA) was up 2.2% on Friday . The stock traded as high as $18.34 and last traded at $18.27. Approximately 250,850 shares were traded during trading, a decline of 59% from the average daily volume of 614,008 shares. The stock had previously closed at $17.88.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on INVA shares. Scotiabank assumed coverage on Innoviva in a report on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 price target for the company. StockNews.com upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a report on Monday, March 24th.

Innoviva Stock Performance

The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38. The company has a market cap of $1.14 billion, a PE ratio of 26.35 and a beta of 0.56. The firm has a fifty day simple moving average of $17.99 and a 200-day simple moving average of $18.64.

Innoviva (NASDAQ:INVA) last released its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.57 EPS for the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. The company had revenue of $91.81 million for the quarter. On average, research analysts forecast that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Insider Activity at Innoviva

In related news, major shareholder Alexander J. Denner sold 1,196,746 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $17.52, for a total value of $20,966,989.92. Following the transaction, the insider now owns 5,658,705 shares in the company, valued at $99,140,511.60. The trade was a 17.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.70% of the stock is owned by insiders.

Institutional Trading of Innoviva

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Innoviva by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 6,312,631 shares of the biotechnology company’s stock worth $109,524,000 after purchasing an additional 84,934 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Innoviva by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,919,518 shares of the biotechnology company’s stock valued at $85,354,000 after buying an additional 226,592 shares during the period. Pacer Advisors Inc. raised its position in Innoviva by 4.3% during the 4th quarter. Pacer Advisors Inc. now owns 2,932,113 shares of the biotechnology company’s stock worth $50,872,000 after buying an additional 121,162 shares during the last quarter. Systematic Financial Management LP lifted its stake in shares of Innoviva by 2.5% in the 4th quarter. Systematic Financial Management LP now owns 2,029,069 shares of the biotechnology company’s stock worth $35,204,000 after acquiring an additional 49,996 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Innoviva by 35.2% in the fourth quarter. American Century Companies Inc. now owns 1,424,315 shares of the biotechnology company’s stock valued at $24,712,000 after acquiring an additional 370,795 shares in the last quarter. 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.