Innoviva (NASDAQ:INVA) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of Innoviva (NASDAQ:INVA) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Innoviva Price Performance

Shares of INVA opened at $18.08 on Friday. The business has a 50-day moving average of $18.06 and a 200-day moving average of $18.86. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.79 and a quick ratio of 1.64. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 26.20 and a beta of 0.55. Innoviva has a 1 year low of $14.32 and a 1 year high of $21.28.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Innoviva by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 6,312,631 shares of the biotechnology company’s stock worth $109,524,000 after buying an additional 84,934 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Innoviva by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,919,518 shares of the biotechnology company’s stock worth $85,354,000 after acquiring an additional 226,592 shares during the period. Pacer Advisors Inc. raised its position in shares of Innoviva by 4.3% in the 4th quarter. Pacer Advisors Inc. now owns 2,932,113 shares of the biotechnology company’s stock worth $50,872,000 after acquiring an additional 121,162 shares in the last quarter. Systematic Financial Management LP lifted its stake in shares of Innoviva by 2.5% in the 4th quarter. Systematic Financial Management LP now owns 2,029,069 shares of the biotechnology company’s stock valued at $35,204,000 after purchasing an additional 49,996 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Innoviva by 35.2% during the 4th quarter. American Century Companies Inc. now owns 1,424,315 shares of the biotechnology company’s stock valued at $24,712,000 after purchasing an additional 370,795 shares in the last quarter. Institutional investors and hedge funds own 99.12% of the company’s stock.

Innoviva Company Profile

Innoviva, Inc engages in the development and commercialization of pharmaceutical products in the United States and internationally. The company’s products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a LABA, vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate; ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA) and umeclidinium bromide (UMEC) with a LABA, VI; GIAPREZA (angiotensin II), a vasoconstrictor to increase blood pressure in adults with septic or other distributive shock; XERAVA (eravacycline) for the treatment of complicated intra-abdominal infections in adults; and XACDURO, a beta lactamase inhibitor for the treatment of hospital-acquired bacterial pneumonia and ventilator-associated bacterial pneumonia.