Innoviva (NASDAQ:INVA) Downgraded by BidaskClub

BidaskClub downgraded shares of Innoviva (NASDAQ:INVA) from a hold rating to a sell rating in a report published on Tuesday morning, BidAskClub reports.

INVA has been the topic of several other research reports. Zacks Investment Research upgraded Hope Bancorp from a sell rating to a hold rating in a research note on Wednesday, April 17th. ValuEngine upgraded Yirendai from a strong sell rating to a sell rating in a research note on Friday, May 3rd.

Shares of NASDAQ:INVA traded up $0.07 during trading on Tuesday, hitting $13.58. The company’s stock had a trading volume of 2,012 shares, compared to its average volume of 620,722. The company has a quick ratio of 66.02, a current ratio of 66.01 and a debt-to-equity ratio of 1.93. Innoviva has a fifty-two week low of $13.07 and a fifty-two week high of $20.54. The firm’s 50-day simple moving average is $14.14. The stock has a market capitalization of $1.37 billion, a P/E ratio of 3.83 and a beta of 1.63.

Innoviva (NASDAQ:INVA) last released its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $55.18 million during the quarter. Equities research analysts forecast that Innoviva will post 1.58 EPS for the current year.

Several institutional investors have recently made changes to their positions in INVA. Prudential Financial Inc. raised its holdings in Innoviva by 18.1% during the fourth quarter. Prudential Financial Inc. now owns 138,669 shares of the biotechnology company’s stock worth $2,420,000 after purchasing an additional 21,269 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Innoviva by 186.8% in the fourth quarter. First Trust Advisors LP now owns 126,400 shares of the biotechnology company’s stock worth $2,206,000 after acquiring an additional 82,335 shares during the last quarter. Texas Permanent School Fund raised its holdings in shares of Innoviva by 3.5% in the fourth quarter. Texas Permanent School Fund now owns 44,300 shares of the biotechnology company’s stock worth $773,000 after acquiring an additional 1,508 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Innoviva by 3.5% in the fourth quarter. Great West Life Assurance Co. Can now owns 90,814 shares of the biotechnology company’s stock worth $1,463,000 after acquiring an additional 3,099 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Innoviva by 8.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,332,417 shares of the biotechnology company’s stock worth $40,700,000 after acquiring an additional 190,568 shares during the last quarter. Institutional investors and hedge funds own 77.85% of the company’s stock.

About Innoviva

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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