Innoviva (INVA) Research Coverage Started at Berenberg Bank

Berenberg Bank assumed coverage on shares of Innoviva (NASDAQ:INVA) in a research report sent to investors on Thursday, The Fly reports. The firm issued a buy rating on the biotechnology company’s stock.

Other research analysts also recently issued reports about the company. TheStreet upgraded Innoviva from a c+ rating to a b rating in a research note on Friday, February 9th. BidaskClub upgraded Innoviva from a hold rating to a buy rating in a research note on Thursday, December 21st. Zacks Investment Research upgraded Innoviva from a hold rating to a buy rating and set a $18.00 price target for the company in a research note on Tuesday, April 17th. ValuEngine upgraded Innoviva from a hold rating to a buy rating in a research note on Wednesday, March 7th. Finally, Stifel Nicolaus restated a hold rating and issued a $17.00 price target on shares of Innoviva in a research note on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $14.17.

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Shares of NASDAQ INVA opened at $16.14 on Thursday. 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 12 month low of $11.02 and a 12 month high of $17.99. The company has a market cap of $1,643.44, a PE ratio of 13.91 and a beta of 2.17.

Innoviva (NASDAQ:INVA) last issued its earnings results on Thursday, February 8th. The biotechnology company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.01. Innoviva had a negative return on equity of 48.93% and a net margin of 61.76%. The company had revenue of $69.52 million during the quarter, compared to the consensus estimate of $67.41 million. During the same period in the previous year, the company posted $0.22 EPS. The firm’s revenue for the quarter was up 59.4% compared to the same quarter last year. research analysts expect that Innoviva will post 2.26 EPS for the current year.

In related news, insider Eric Desparbes sold 5,378 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $16.52, for a total value of $88,844.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP George B. Abercrombie sold 8,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $16.51, for a total value of $132,080.00. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INVA. New York State Common Retirement Fund boosted its stake in Innoviva by 66.3% in the 3rd quarter. New York State Common Retirement Fund now owns 130,047 shares of the biotechnology company’s stock valued at $1,836,000 after purchasing an additional 51,847 shares during the period. Macquarie Group Ltd. acquired a new position in Innoviva in the 3rd quarter valued at $144,000. JPMorgan Chase & Co. raised its holdings in Innoviva by 1,379.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 780,546 shares of the biotechnology company’s stock valued at $10,896,000 after acquiring an additional 727,803 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Innoviva by 22.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 981,854 shares of the biotechnology company’s stock valued at $13,864,000 after acquiring an additional 179,860 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in Innoviva by 247.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 117,862 shares of the biotechnology company’s stock valued at $1,664,000 after acquiring an additional 83,910 shares in the last quarter. Institutional investors and hedge funds own 75.04% of the company’s stock.

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About Innoviva

Innoviva, Inc engages in the development and commercialization of bio-pharmaceuticals. Its portfolio of respiratory products include RELVAR/BREO ELLIPTA, (fluticasone furoate/ vilanterol, FF/VI); ANORO ELLIPTA (umeclidinium bromide/ vilanterol, UMEC/VI); and TRELEGY ELLIPTA (the combination FF/UMEC/VI).

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