Innoviva, Inc. to Post FY2024 Earnings of $1.09 Per Share, Cantor Fitzgerald Forecasts (NASDAQ:INVA)

Innoviva, Inc. (NASDAQ:INVA) – Equities research analysts at Cantor Fitzgerald issued their FY2024 earnings estimates for shares of Innoviva in a research report issued to clients and investors on Tuesday, June 18th. Cantor Fitzgerald analyst L. Chen anticipates that the biotechnology company will post earnings of $1.09 per share for the year. Cantor Fitzgerald has a “Overweight” rating on the stock.

Innoviva (NASDAQ:INVA) last announced its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported $0.46 earnings per share for the quarter. Innoviva had a net margin of 58.21% and a return on equity of 28.94%. The company had revenue of $77.50 million during the quarter.

A number of other equities research analysts have also weighed in on INVA. TheStreet upgraded shares of Innoviva from a “c” rating to a “b-” rating in a research note on Thursday, February 29th. StockNews.com raised shares of Innoviva from a “hold” rating to a “buy” rating in a report on Friday, March 29th.

Innoviva Price Performance

Shares of INVA opened at $16.07 on Friday. The firm has a market cap of $1.00 billion, a PE ratio of 7.24 and a beta of 0.58. The company has a current ratio of 10.42, a quick ratio of 9.17 and a debt-to-equity ratio of 0.63. The firm has a fifty day simple moving average of $15.59 and a two-hundred day simple moving average of $15.60. Innoviva has a 1-year low of $12.22 and a 1-year high of $16.86.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. boosted its holdings in shares of Innoviva by 333.5% during the 1st quarter. Bessemer Group Inc. now owns 2,211 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 1,701 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Innoviva by 124.0% during the 1st quarter. GAMMA Investing LLC now owns 2,262 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 1,252 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Innoviva by 342.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,410 shares of the biotechnology company’s stock valued at $119,000 after buying an additional 5,736 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Innoviva during the 1st quarter valued at about $138,000. Finally, Quadrant Capital Group LLC raised its position in shares of 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 buying an additional 1,056 shares in the last quarter. Institutional investors own 99.12% of the company’s stock.

About Innoviva

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.