Innoviva (NASDAQ:INVA) Stock Rating Lowered by StockNews.com

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

Innoviva Trading Down 0.2 %

Innoviva stock traded down $0.03 during midday trading on Tuesday, reaching $17.35. The stock had a trading volume of 546,980 shares, compared to its average volume of 596,342. The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 25.15 and a beta of 0.53. Innoviva has a 52-week low of $14.32 and a 52-week high of $21.28. The company has a fifty day moving average of $18.98 and a 200 day moving average of $18.61.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.25). Innoviva had a return on equity of 20.84% and a net margin of 18.31%. The business had revenue of $89.51 million during the quarter. On average, analysts anticipate that Innoviva will post 0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in INVA. JPMorgan Chase & Co. grew its stake in Innoviva by 14.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 578,243 shares of the biotechnology company’s stock worth $11,166,000 after acquiring an additional 72,039 shares in the last quarter. World Investment Advisors LLC purchased a new stake in shares of Innoviva in the third quarter valued at approximately $217,000. Geode Capital Management LLC boosted its holdings in shares of Innoviva by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,357,557 shares of the biotechnology company’s stock valued at $26,219,000 after purchasing an additional 13,257 shares during the period. Barclays PLC grew its stake in Innoviva by 254.2% in the third quarter. Barclays PLC now owns 100,594 shares of the biotechnology company’s stock worth $1,942,000 after purchasing an additional 72,192 shares in the last quarter. Finally, MML Investors Services LLC increased its holdings in Innoviva by 19.4% during the 3rd quarter. MML Investors Services LLC now owns 18,375 shares of the biotechnology company’s stock worth $355,000 after purchasing an additional 2,985 shares during the period. 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.