Innoviva (NASDAQ:INVA) Shares Gap Up – Should You Buy?

Innoviva, Inc. (NASDAQ:INVA)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $20.32, but opened at $21.24. Innoviva shares last traded at $20.90, with a volume of 93,908 shares changing hands.

Analyst Ratings Changes

INVA has been the subject of several recent research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Innoviva in a research report on Tuesday, July 30th. StockNews.com cut shares of Innoviva from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 6th.

Innoviva Trading Down 0.8 %

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 business has a 50-day simple moving average of $19.64 and a two-hundred day simple moving average of $17.90. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 29.46 and a beta of 0.57.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.25). Innoviva had a net margin of 18.31% and a return on equity of 20.84%. The business had revenue of $89.51 million during the quarter. Equities analysts forecast that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Institutional Trading of Innoviva

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in Innoviva by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,684,594 shares of the biotechnology company’s stock valued at $76,826,000 after acquiring an additional 71,336 shares during the period. American Century Companies Inc. increased its stake in shares of Innoviva by 369.6% during the second quarter. American Century Companies Inc. now owns 459,690 shares of the biotechnology company’s stock worth $7,539,000 after purchasing an additional 361,797 shares during the period. Denali Advisors LLC lifted its holdings in Innoviva by 34.9% during the 2nd quarter. Denali Advisors LLC now owns 439,786 shares of the biotechnology company’s stock worth $7,212,000 after purchasing an additional 113,700 shares during the last quarter. Boston Partners boosted its stake in Innoviva by 90.3% in the 1st quarter. Boston Partners now owns 391,456 shares of the biotechnology company’s stock valued at $5,966,000 after purchasing an additional 185,784 shares during the period. Finally, Hillsdale Investment Management Inc. grew its holdings in Innoviva by 8.6% in the 1st quarter. Hillsdale Investment Management Inc. now owns 315,600 shares of the biotechnology company’s stock valued at $4,810,000 after buying an additional 24,900 shares in the last quarter. 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.