Innoviva (NASDAQ:INVA) Lowered to Sell at BidaskClub

Innoviva (NASDAQ:INVA) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday, June 26th, BidAskClub reports.

Several other research analysts also recently commented on the company. ValuEngine upgraded Yirendai from a “strong sell” rating to a “sell” rating in a research note on Friday, May 3rd. Zacks Investment Research raised Hope Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th.

NASDAQ INVA traded up $0.03 on Wednesday, reaching $13.51. The company had a trading volume of 407,153 shares, compared to its average volume of 1,038,973. Innoviva has a 52-week low of $13.07 and a 52-week high of $20.54. The business has a fifty day moving average price of $14.15. The company has a quick ratio of 66.02, a current ratio of 66.01 and a debt-to-equity ratio of 1.93. The stock has a market capitalization of $1.36 billion, a PE ratio of 3.83 and a beta of 1.63.

Innoviva (NASDAQ:INVA) last issued its earnings results on Wednesday, May 1st. The biotechnology company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). Innoviva had a return on equity of 1,674.72% and a net margin of 151.35%. The company had revenue of $55.18 million during the quarter. Sell-side analysts predict that Innoviva will post 1.58 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of INVA. Norges Bank bought a new position in Innoviva during the 4th quarter worth approximately $23,925,000. D. E. Shaw & Co. Inc. grew its position in Innoviva by 104.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,956,320 shares of the biotechnology company’s stock worth $34,138,000 after acquiring an additional 1,001,636 shares during the last quarter. 13D Management LLC bought a new stake in shares of Innoviva in the 1st quarter worth approximately $8,593,000. MERIAN GLOBAL INVESTORS UK Ltd grew its position in shares of Innoviva by 38.7% in the 1st quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,775,714 shares of the biotechnology company’s stock worth $24,913,000 after buying an additional 495,781 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of Innoviva by 36.6% in the 4th quarter. Deutsche Bank AG now owns 1,137,370 shares of the biotechnology company’s stock worth $19,845,000 after buying an additional 304,583 shares during the last quarter. Institutional investors and hedge funds own 77.85% of the company’s stock.

Innoviva Company Profile

Innoviva, Inc engages in the development and commercialization of pharmaceuticals. The company has long-acting beta2 agonist (LABA) collaboration agreement with Glaxo Group Limited to develop and commercialize once-daily products for the treatment of chronic obstructive pulmonary disease and asthma. Its products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a long-acting beta2 agonist (LABA), vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate (FF); ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA), umeclidinium bromide (UMEC), with a LABA, and VI; and TRELEGY ELLIPTA, a once-daily combination medicine consisting of an ICS, LAMA and LABA.

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