Innoviva (INVA) – Research Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of Innoviva (NASDAQ: INVA) recently:

• 3/16/2023 – Innoviva is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 3/3/2023 – Innoviva had its price target lowered by analysts at Morgan Stanley from $13.00 to $10.00. They now have an “underweight” rating on the stock.
• 3/3/2023 – Innoviva had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $15.00 to $13.00. They now have a “neutral” rating on the stock.
• 3/3/2023 – Innoviva was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 3/3/2023 – Innoviva had its “buy” rating reaffirmed by analysts at EF Hutton Acquisition Co. I. They now have a $22.50 price target on the stock.
• 2/23/2023 – Innoviva was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.
• 1/24/2023 – Innoviva had its price target lowered by analysts at Morgan Stanley from $14.00 to $13.00. They now have an “underweight” rating on the stock.

Innoviva Price Performance

Shares of NASDAQ INVA opened at $11.46 on Friday. The company has a quick ratio of 2.87, a current ratio of 3.29 and a debt-to-equity ratio of 0.79. Innoviva, Inc. has a fifty-two week low of $10.64 and a fifty-two week high of $20.71. The business has a 50 day moving average price of $12.30 and a two-hundred day moving average price of $12.76. The firm has a market cap of $799.68 million, a PE ratio of 5.54 and a beta of 0.56.

Insider Activity

In other Innoviva news, CEO Pavel Raifeld bought 3,000 shares of Innoviva stock in a transaction dated Friday, March 10th. The stock was bought at an average cost of $10.87 per share, for a total transaction of $32,610.00. Following the purchase, the chief executive officer now owns 9,799 shares in the company, valued at approximately $106,515.13. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Innoviva

Several institutional investors and hedge funds have recently made changes to their positions in INVA. Advisor Group Holdings Inc. boosted its stake in shares of Innoviva by 12.4% during the 1st quarter. Advisor Group Holdings Inc. now owns 8,138 shares of the biotechnology company’s stock valued at $153,000 after buying an additional 899 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Innoviva by 9.7% during the first quarter. JPMorgan Chase & Co. now owns 306,797 shares of the biotechnology company’s stock worth $5,936,000 after purchasing an additional 27,181 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Innoviva by 4.8% during the first quarter. Bank of New York Mellon Corp now owns 689,908 shares of the biotechnology company’s stock worth $13,350,000 after purchasing an additional 31,617 shares during the last quarter. Cetera Advisor Networks LLC bought a new position in shares of Innoviva in the 1st quarter worth about $249,000. Finally, Acadian Asset Management LLC boosted its holdings in shares of Innoviva by 430.1% in the 1st quarter. Acadian Asset Management LLC now owns 6,292 shares of the biotechnology company’s stock valued at $120,000 after buying an additional 5,105 shares during the period.

Innoviva, Inc is engaged in the development, commercialization, and financial management of biopharmaceuticals. Its portfolio includes Relvar Breo Ellipta, which is a once-daily combination medicine consisting of a long-acting beta2 agonist, vilanterol, and an inhaled corticosteroid, fluticasone furoate, and Anoro Ellipta, a once-daily medicine combining a long-acting muscarinic antagonist, umeclidinium bromide, LABA, VI.