Innoviva (NASDAQ:INVA) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, March 7th.
Other equities analysts also recently issued reports about the stock. TheStreet upgraded shares of Innoviva from a “c+” rating to a “b” rating in a report on Friday, February 9th. BidaskClub upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Deutsche Bank initiated coverage on shares of Innoviva in a report on Monday, November 20th. They set a “hold” rating and a $13.00 price objective on the stock. Stifel Nicolaus restated a “hold” rating and set a $17.00 price objective on shares of Innoviva in a report on Friday, February 9th. Finally, Zacks Investment Research upgraded shares of Innoviva from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $13.83.
Innoviva (NASDAQ INVA) opened at $15.55 on Wednesday. The company has a market cap of $1,589.47, a PE ratio of 13.46 and a beta of 2.34. The company has a quick ratio of 5.77, a current ratio of 5.77 and a debt-to-equity ratio of -2.37. Innoviva has a fifty-two week low of $11.02 and a fifty-two week high of $17.21.
In related news, insider Eric Desparbes sold 5,378 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $16.52, for a total value of $88,844.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP George B. Abercrombie sold 8,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $16.51, for a total transaction of $132,080.00. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.
Large investors have recently modified their holdings of the stock. Sei Investments Co. increased its holdings in Innoviva by 33,810.3% in the 3rd quarter. Sei Investments Co. now owns 9,834 shares of the biotechnology company’s stock worth $138,000 after buying an additional 9,805 shares during the period. Macquarie Group Ltd. acquired a new position in Innoviva in the 3rd quarter worth approximately $144,000. Jane Street Group LLC acquired a new position in Innoviva in the 3rd quarter worth approximately $144,000. Magnetar Financial LLC acquired a new position in Innoviva in the 3rd quarter worth approximately $182,000. Finally, Meadow Creek Investment Management LLC increased its holdings in Innoviva by 30.0% in the 4th quarter. Meadow Creek Investment Management LLC now owns 14,084 shares of the biotechnology company’s stock worth $200,000 after buying an additional 3,248 shares during the period. Institutional investors own 75.01% of the company’s stock.
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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)).
To view ValuEngine’s full report, visit ValuEngine’s official website.
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