Innoviva (NASDAQ:INVA) Reaches New 1-Year High – What’s Next?

Innoviva, Inc. (NASDAQ:INVA) shares reached a new 52-week high on Tuesday . The company traded as high as $21.26 and last traded at $21.12, with a volume of 431840 shares. The stock had previously closed at $20.12.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on INVA. StockNews.com lowered Innoviva from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 6th. Cantor Fitzgerald restated an “overweight” rating on shares of Innoviva in a research note on Tuesday, July 30th.

Innoviva Stock Performance

The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 1.79. The company has a market cap of $1.26 billion, a P/E ratio of 29.13 and a beta of 0.57. The firm has a 50 day moving average price of $19.65 and a 200-day moving average price of $17.92.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. EdgeRock Capital LLC acquired a new position in shares of Innoviva during the 2nd quarter worth about $31,000. Bessemer Group Inc. lifted its holdings 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 buying an additional 1,701 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of Innoviva in the second quarter valued at approximately $33,000. US Bancorp DE grew its stake in shares of 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 acquiring an additional 566 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Innoviva by 53.7% during the second quarter. GAMMA Investing LLC now owns 3,476 shares of the biotechnology company’s stock worth $57,000 after acquiring an additional 1,214 shares during the period. Institutional investors and hedge funds 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.