Berenberg Bank Begins Coverage on Innoviva (INVA)

Analysts at Berenberg Bank assumed coverage on shares of Innoviva (NASDAQ:INVA) in a report issued on Thursday, The Fly reports. The brokerage set a “buy” rating on the biotechnology company’s stock.

Several other equities analysts also recently commented on INVA. BidaskClub raised Innoviva from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Zacks Investment Research cut Innoviva from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd. Stifel Nicolaus reiterated a “hold” rating and issued a $17.00 target price on shares of Innoviva in a report on Friday, February 9th. TheStreet upgraded Innoviva from a “c+” rating to a “b” rating in a report on Friday, February 9th. Finally, ValuEngine upgraded Innoviva from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $14.17.

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Innoviva stock traded up $0.34 during mid-day trading on Thursday, hitting $16.24. The company’s stock had a trading volume of 159,267 shares, compared to its average volume of 990,447. The company has a market capitalization of $1,626.13, a PE ratio of 13.82 and a beta of 2.17. 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 one year low of $11.02 and a one year high of $17.99.



Innoviva (NASDAQ:INVA) last announced its quarterly earnings data on Thursday, February 8th. The biotechnology company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The company had revenue of $69.52 million for the quarter, compared to the consensus estimate of $67.41 million. Innoviva had a negative return on equity of 48.93% and a net margin of 61.76%. Innoviva’s quarterly revenue was up 59.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.22 EPS. research analysts anticipate that Innoviva will post 2.26 earnings per share for the current year.

In related news, insider Eric Desparbes sold 5,378 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $16.52, for a total transaction of $88,844.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP George B. Abercrombie sold 8,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was 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. 1.60% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Xact Kapitalforvaltning AB purchased a new stake in shares of Innoviva during the 4th quarter worth $201,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its stake in shares of Innoviva by 8.5% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 330,500 shares of the biotechnology company’s stock worth $4,690,000 after purchasing an additional 25,900 shares during the last quarter. Sterling Capital Management LLC purchased a new stake in shares of Innoviva during the 4th quarter worth $834,000. MetLife Investment Advisors LLC acquired a new position in Innoviva during the 4th quarter valued at about $473,000. Finally, Macquarie Group Ltd. increased its position in Innoviva by 149.0% during the 4th quarter. Macquarie Group Ltd. now owns 25,400 shares of the biotechnology company’s stock valued at $360,000 after buying an additional 15,200 shares in the last quarter. Hedge funds and other institutional investors 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).

The Fly

Analyst Recommendations for Innoviva (NASDAQ:INVA)

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