Innoviva (NASDAQ:INVA) Reaches New 52-Week High at $19.45

Shares of Innoviva, Inc. (NASDAQ:INVA) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $19.45 and last traded at $19.40, with a volume of 197806 shares traded. The stock had previously closed at $19.10.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on INVA. Cantor Fitzgerald reiterated an “overweight” rating on shares of Innoviva in a research note on Tuesday, July 30th. StockNews.com cut Innoviva from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 6th.

Innoviva Trading Up 1.5 %

The company has a market capitalization of $1.21 billion, a P/E ratio of 8.73 and a beta of 0.57. The company has a debt-to-equity ratio of 0.67, a quick ratio of 11.40 and a current ratio of 12.70. The stock has a fifty day moving average of $17.78 and a 200 day moving average of $16.22.

Innoviva (NASDAQ:INVA) last announced its quarterly earnings data on Wednesday, July 31st. The biotechnology company reported $0.68 earnings per share (EPS) for the quarter. The company had revenue of $99.90 million during the quarter. Innoviva had a return on equity of 33.26% and a net margin of 44.00%. As a group, equities research analysts anticipate that Innoviva, Inc. will post 0.5 EPS for the current fiscal year.

Institutional Trading of Innoviva

A number of hedge funds and other institutional investors have recently modified their holdings of the company. EdgeRock Capital LLC bought a new position in Innoviva in the 2nd quarter worth $31,000. Innealta Capital LLC purchased a new stake in shares of Innoviva during the second quarter worth about $33,000. Bessemer Group Inc. grew its position in shares of Innoviva by 333.5% during the first quarter. Bessemer Group Inc. now owns 2,211 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 1,701 shares in the last quarter. GAMMA Investing LLC raised its stake in 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 purchasing an additional 1,252 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in Innoviva by 13.2% in the 4th quarter. Quadrant Capital Group LLC now owns 9,042 shares of the biotechnology company’s stock worth $145,000 after purchasing an additional 1,056 shares in the last quarter. 99.12% of the stock is owned by hedge funds and other institutional investors.

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.