Innoviva, Inc. (NASDAQ:INVA – Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $20.24 and last traded at $20.24, with a volume of 64805 shares trading hands. The stock had previously closed at $19.88.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on INVA. StockNews.com cut Innoviva from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 6th. Cantor Fitzgerald reissued an “overweight” rating on shares of Innoviva in a report on Tuesday, July 30th.
View Our Latest Stock Report on Innoviva
Innoviva Stock Up 1.6 %
Innoviva (NASDAQ:INVA – Get Free Report) last announced its earnings results on Wednesday, July 31st. The biotechnology company reported $0.68 earnings per share (EPS) for the quarter. Innoviva had a net margin of 44.00% and a return on equity of 33.26%. The business had revenue of $99.90 million for the quarter. On average, sell-side analysts predict that Innoviva, Inc. will post 0.5 EPS for the current fiscal year.
Hedge Funds Weigh In On Innoviva
A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake 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 acquiring an additional 643 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in Innoviva by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 49,358 shares of the biotechnology company’s stock worth $752,000 after purchasing an additional 662 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Innoviva by 6.2% during the first quarter. ProShare Advisors LLC now owns 16,150 shares of the biotechnology company’s stock worth $246,000 after buying an additional 942 shares in the last quarter. SummerHaven Investment Management LLC raised its position in shares of Innoviva by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 59,853 shares of the biotechnology company’s stock valued at $982,000 after buying an additional 980 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Innoviva by 0.3% in the first quarter. Principal Financial Group Inc. now owns 323,991 shares of the biotechnology company’s stock worth $4,938,000 after buying an additional 1,121 shares in the last quarter. Institutional investors and hedge funds 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.
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