Innoviva Inc (INVA) Outlook Starting To Look Brighter?

Innoviva Inc (INVA) concluded trading on Thursday at a closing price of $15.24, with 0.49 million shares of worth about $7.47 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 15.72% during that period and on March 28, 2024 the price saw a loss of about -0.33%. Currently the company’s common shares owned by public are about 63.23M shares, out of which, 62.43M shares are available for trading.

Stock saw a price change of 1.67% in past 5 days and over the past one month there was a price change of -0.72%. Year-to-date (YTD), INVA shares are showing a performance of -4.99% which increased to 33.92% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $11.11 but also hit the highest price of $16.86 during that period. The average intraday trading volume for Innoviva Inc shares is 679.95K. The stock is currently trading 1.90% above its 20-day simple moving average (SMA20), while that difference is down -2.05% for SMA50 and it goes to 7.98% higher than SMA200.

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Innoviva Inc (NASDAQ: INVA) currently have 63.23M outstanding shares and institutions hold larger chunk of about 116.24% of that.

The stock has a current market capitalization of $963.63M and its 3Y-monthly beta is at 0.57. PE ratio of stock for trailing 12 months is 6.98, while it has posted earnings per share of $2.18 in the same period. Its PEG reads 0.36 and has Quick Ratio of 7.96 while making debt-to-equity ratio of 0.67. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for INVA, volatility over the week remained 1.58% while standing at 2.50% over the month.

Analysts are in expectations that Innoviva Inc (INVA) stock would likely to be making an EPS of $0.17 in the current quarter, while forecast for next quarter EPS is $0.22 and it is $0.98 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.17 which is $0.17 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.42 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -63.18% while it is estimated to increase by 20.99% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Goldman on July 20, 2022 offering a Neutral rating for the stock and assigned a target price of $16 to it. Coverage by Deutsche Bank stated Innoviva Inc (INVA) stock as a Hold in their note to investors on November 20, 2017, suggesting a price target of $13 for the stock.

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