Press coverage about Innoviva (NASDAQ:INVA) has been trending somewhat positive recently, according to Accern Sentiment Analysis. Accern identifies negative and positive news coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Innoviva earned a news sentiment score of 0.06 on Accern’s scale. Accern also assigned headlines about the biotechnology company an impact score of 44.5673134275146 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Here are some of the news headlines that may have impacted Accern Sentiment Analysis’s analysis:
- May This Data Fuel Up Investor’s Confidence – Innoviva, Inc. (NASDAQ: INVA) – Alpha Beta Stock (alphabetastock.com)
- Innoviva Inc (INVA) Expected to Announce Quarterly Sales of $66.75 Million (americanbankingnews.com)
- Innoviva, Inc. (INVA)- Tech Stock Buzz – Nasdaq Fortune (press release) (nasdaqfortune.com)
- Needs Attention On Overbought Factors: Innoviva, Inc. (INVA) – Wallstreet Investorplace (wallstreetinvestorplace.com)
- Innoviva Sees RS Rating Rise To 74 (finance.yahoo.com)
Several equities research analysts recently issued reports on INVA shares. ValuEngine lowered Innoviva from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Stifel Nicolaus reaffirmed a “neutral” rating on shares of Innoviva in a research note on Friday, September 15th. Morgan Stanley reaffirmed an “underweight” rating and set a $8.00 price target (up previously from $7.00) on shares of Innoviva in a research note on Friday, October 6th. Cowen set a $16.00 price target on Innoviva and gave the stock a “buy” rating in a research note on Monday, October 23rd. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $13.00 price target on shares of Innoviva in a research note on Tuesday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $13.50.
Innoviva (NASDAQ:INVA) last announced its quarterly earnings results on Wednesday, October 25th. The biotechnology company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.13). Innoviva had a net margin of 52.91% and a negative return on equity of 33.55%. The business had revenue of $48.64 million for the quarter, compared to analysts’ expectations of $57.18 million. During the same quarter in the prior year, the firm earned $0.13 EPS. The firm’s revenue for the quarter was up 46.0% on a year-over-year basis. sell-side analysts anticipate that Innoviva will post 1.08 earnings per share for the current year.
In other Innoviva news, insider Michael W. Aguiar sold 12,022 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $13.13, for a total transaction of $157,848.86. Following the transaction, the insider now owns 980,907 shares in the company, valued at approximately $12,879,308.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP George B. Abercrombie sold 5,215 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $13.26, for a total value of $69,150.90. Following the transaction, the vice president now owns 263,866 shares in the company, valued at approximately $3,498,863.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,522 shares of company stock worth $429,985. 1.60% of the stock is owned by company insiders.
Innoviva Company Profile
Innoviva, Inc, formerly Theravance, Inc, is engaged in the development, commercialization and financial management of bio-pharmaceuticals. It focuses on the respiratory assets partnered with Glaxo Group Limited (GSK), including RELVAR/BREO ELLIPTA (fluticasone furoate (FF)/vilanterol (VI)) and ANORO ELLIPTA (umeclidinium bromide/vilanterol (UMEC/VI)).
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