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Saturday, December 5, 2020

Innoviva Inc. (NASDAQ:INVA) on the Path to Ruin

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Innoviva Inc. (INVA) shares are trading at lower $12.73 and the avg recommendation for the stock is Moderate Sell. while the current analyst price target stands at $8.00.

To add more color to this target, the company’s high over the last year is $15.62 and the low is $7.58. Over the last 52 weeks, INVA is up 11.67% while the S&P 500 is up 16.12%%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, INVA reported a profit of $3.15 million. Innoviva Inc. also saw revenues increase to $78.95 million. In addition, INVA has free cash flow of $153.26 million as of 06-2020. The company’s EBITDA came in at $81.21 million which compares well with its peers.

INVA booked profit margins of 76.20%, its Return on Equity (ROE) is 64.40%, and its Return on Assets is 29.70%. All told, it is clear that, INVA needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. INVA has a short ratio of 18.32 and outstanding shares of 101.32M.

Company Outlook

INVA has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.77 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 2.03. Innoviva Inc. INVA also noted assets of $879.62 million at the end of the last quarter. Investors should also keep an eye on sector updates as INVA has historically followed its peers on positive news.

All told, Innoviva Inc. INVA has strung together solid data and demonstrated underlying fundamentals. At its current valuation, INVA represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Innoviva Inc. INVA is now commanding a market cap of 1.34B and a float of 68.98M. INVA is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of INVA stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in INVA, either long or short, and we have not been compensated for this article.

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