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

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.

Innoviva Stock Performance

NASDAQ INVA opened at $18.08 on Friday. The firm has a 50-day moving average of $18.05 and a 200-day moving average of $18.87. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 1.79. The stock has a market cap of $1.13 billion, a PE ratio of 26.20 and a beta of 0.55. Innoviva has a 52-week low of $14.32 and a 52-week high of $21.28.

Institutional Trading of Innoviva

Several hedge funds and other institutional investors have recently bought and sold shares of INVA. American Century Companies Inc. raised its stake in Innoviva by 35.2% in the 4th quarter. American Century Companies Inc. now owns 1,424,315 shares of the biotechnology company’s stock worth $24,712,000 after purchasing an additional 370,795 shares in the last quarter. Millennium Management LLC raised its stake in Innoviva by 426.4% in the 4th quarter. Millennium Management LLC now owns 400,613 shares of the biotechnology company’s stock worth $6,951,000 after purchasing an additional 324,515 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in Innoviva in the 4th quarter worth about $5,437,000. Jefferies Financial Group Inc. raised its stake in Innoviva by 355.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 296,238 shares of the biotechnology company’s stock worth $5,140,000 after purchasing an additional 231,238 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Innoviva by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,919,518 shares of the biotechnology company’s stock worth $85,354,000 after purchasing an additional 226,592 shares in the last quarter. Institutional investors and hedge funds own 99.12% of the company’s stock.

About Innoviva

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.