A Great Stock That Is Lost For Many Investors: Innoviva Inc. (INVA)

Innoviva Inc. (NASDAQ: INVA) is -10.10% lower on its value in year-to-date trading and has touched a low of $7.58 and a high of $15.62 in the current 52-week trading range. The INVA stock was last observed hovering at around $13.19 in the last trading session, with the day’s loss setting it -0.46% off its average median price target of $8.00 for the next 12 months. It is also -59.13% off the consensus price target high of $8.00 offered by 1 analysts, but current levels are -59.13% lower than the price target low of $8.00 for the same period.

Currently trading at $12.73, the stock is -6.32% and -7.63% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.05 million and changing -3.49% at the moment leaves the stock -5.13% off its SMA200. INVA registered 11.67% gain for a year compared to 6-month loss of -11.87%. The firm has a 50-day simple moving average (SMA 50) of $13.67 and a 200-day simple moving average (SMA200) of $13.37.

The stock witnessed a -6.19% gain in the last 1 month and extending the period to 3 months gives it a -11.96%, and is -8.81% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.24% over the week and 3.02% over the month.

Innoviva Inc. (INVA) has around 5 employees, a market worth around $1.34B and $299.40M in sales. Current P/E ratio is 6.27 and Fwd P/E is 15.34. Profit margin for the company is 76.20%. Distance from 52-week low is 67.94% and -18.50% from its 52-week high. The company has generated returns on investments over the last 12 months (29.60%).

Innoviva Inc. (INVA) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Innoviva Inc. (INVA) is a “Sell”. 1 analysts offering their recommendations for the stock have an average rating of 4.00, where 0 rate it as a Hold and 0 think it is a “Overweight”. 0 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Innoviva Inc. is expected to release its quarterly report on 10/28/2020 and quarterly earnings per share for the current quarter are estimated at $0.42 with sales reaching $66.6M over the same period.The EPS is expected to shrink by -60.20% this year, but quarterly earnings will post -9.90% year-over-year. Quarterly sales are estimated to grow 7.90% in year-over-year returns.

Innoviva Inc. (INVA) Top Institutional Holders

284 institutions hold shares in Innoviva Inc. (INVA), with 32.78M shares held by insiders accounting for 32.33% while institutional investors hold 112.85% of the company’s shares. The shares outstanding are 101.32M, and float is at 68.98M with Short Float at 17.51%. Institutions hold 76.37% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 11.66 million shares valued at $162.96 million. The investor’s holdings represent 11.50% of the INVA Shares outstanding. As of Jun 29, 2020, the second largest holder is Renaissance Technologies, LLC with 8.53 million shares valued at $119.26 million to account for 8.41% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 6.82 million shares representing 6.73% and valued at over $95.39 million, while Sarissa Capital Management, LP holds 6.33% of the shares totaling 6.41 million with a market value of $89.67 million.

Innoviva Inc. (INVA) Insider Activity

A total of 8 insider transactions have happened at Innoviva Inc. (INVA) in the last six months, with sales accounting for 3 and purchases happening 5 times. The most recent transaction is an insider purchase by Innoviva, Inc., the company’s 10% Owner. SEC filings show that Innoviva, Inc. bought 7,717,661 shares of the company’s common stock on Mar 27 at a price of $2.87 per share for a total of $22.15 million. Following the purchase, the insider now owns 8.71 million shares.

Innoviva Inc. disclosed in a document filed with the SEC on Feb 24 that Zhen Marianne (Chief Accounting Officer) sold a total of 2,954 shares of the company’s common stock. The trade occurred on Feb 24 and was made at $14.78 per share for $43660.0. Following the transaction, the insider now directly holds 21913.0 shares of the INVA stock.

Innoviva Inc. (INVA): Who are the competitors?

The company’s main competitors (and peers) include Johnson & Johnson (JNJ) that is trading 16.37% up over the past 12 months. Novartis AG (NVS) is -2.92% down on the 1-year trading charts. Short interest in the company’s stock has fallen -1.16% from the last report on Jun 29, 2020 to stand at a total of 12.22 million short shares sold with a short interest ratio of 21.42.