Innoviva (NASDAQ:INVA – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.
Separately, Cantor Fitzgerald started coverage on shares of Innoviva in a research report on Tuesday, June 18th. They set an “overweight” rating for the company.
Read Our Latest Stock Analysis on Innoviva
Innoviva Stock Up 2.9 %
Innoviva (NASDAQ:INVA – Get Free Report) last released its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported $0.46 earnings per share (EPS) for the quarter. The firm had revenue of $77.50 million for the quarter. Innoviva had a net margin of 58.21% and a return on equity of 28.94%. Analysts predict that Innoviva will post 1.09 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Innoviva
A number of institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in shares of Innoviva by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,516,999 shares of the biotechnology company’s stock valued at $72,454,000 after buying an additional 66,295 shares during the period. Westfield Capital Management Co. LP grew its stake in Innoviva by 27.8% during the 4th quarter. Westfield Capital Management Co. LP now owns 2,614,127 shares of the biotechnology company’s stock worth $41,931,000 after purchasing an additional 569,117 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Innoviva by 17.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 933,259 shares of the biotechnology company’s stock worth $14,969,000 after buying an additional 135,456 shares in the last quarter. Boston Partners grew its holdings in Innoviva by 90.3% during the 1st quarter. Boston Partners now owns 391,456 shares of the biotechnology company’s stock worth $5,966,000 after acquiring an additional 185,784 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Innoviva by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 323,991 shares of the biotechnology company’s stock worth $4,938,000 after purchasing an additional 1,121 shares during the last quarter. 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.
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