StockNews.com Downgrades Innoviva (NASDAQ:INVA) to Hold

Innoviva (NASDAQ:INVA) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Innoviva Trading Down 0.2 %

Shares of INVA opened at $17.35 on Tuesday. Innoviva has a twelve month low of $14.32 and a twelve month high of $21.28. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. The company’s fifty day simple moving average is $18.93 and its 200-day simple moving average is $18.60. The company has a market cap of $1.09 billion, a P/E ratio of 25.15 and a beta of 0.53.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data 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 return on equity of 20.84% and a net margin of 18.31%. The firm had revenue of $89.51 million during the quarter. As a group, analysts expect that Innoviva will post 0.33 EPS for the current year.

Hedge Funds Weigh In On Innoviva

Large investors have recently bought and sold shares of the business. US Bancorp DE increased its stake in Innoviva by 24.5% in the third quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 566 shares during the period. GAMMA Investing LLC grew its holdings in shares of Innoviva by 18.5% in the third quarter. GAMMA Investing LLC now owns 4,119 shares of the biotechnology company’s stock worth $80,000 after purchasing an additional 643 shares during the last quarter. FMR LLC increased its stake in Innoviva by 8.2% in the 3rd quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock worth $195,000 after buying an additional 771 shares during the period. Evergreen Capital Management LLC lifted its holdings in Innoviva by 10.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 12,321 shares of the biotechnology company’s stock valued at $202,000 after buying an additional 1,209 shares in the last quarter. Finally, Walleye Capital LLC purchased a new stake in Innoviva in the 3rd quarter valued at about $214,000. Hedge funds and other 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.