Chart Of The Day: Innoviva - Individual Investor Favorite -

Chart Of The Day: Innoviva – Individual Investor Favorite

Jan 08, 2024Jeremy ParkinsonFinance, No picture0

The Chart of the Day belongs to the biopharma company Innoviva (INVA). I found the stock by using Barchart’s powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 11/ 3 the stock gained 21.54%. INVA Price vs Daily Moving AveragesInnoviva, 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; and TRELEGY ELLIPTA, a once-daily combination medicine consisting of an ICS, LAMA, and LABA. Innoviva, Inc. has a strategic partnership with Sarissa Capital Management LP. It has long-acting beta2 agonist (LABA) collaboration agreement with Glaxo Group Limited to develop and commercialize once-daily products for the treatment of chronic obstructive pulmonary disease and asthma. The company was formerly known as Theravance, Inc. and changed its name to Innoviva, Inc. in January 2016. Innoviva, Inc. was incorporated in 1996 and is headquartered in Burlingame, California.Barchart’s Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. Barchart Technical Indicators:

100% technical buy signals

36.40+ Weighted Alpha

26.47% gain in the last year

Above its 20, 50 and 100 day moving averages

14 new highs and up 12.87% in the last month

Relative Strength Index 72.28%

Technical support level at $16.50

Recently traded at $16.58 with 50 day moving average of $14.47

Fundamental Factors:

Market Cap $1.06 billion

P/E 9.70%

Wall Street projects Revenue will be down 9.40% this year but up again by 6.40% next year

Their Earnings projections are all over the place down 29.50% this year, then down again by 50.90% next year but have an annual compounded increase of 19.34% over the next 5 years

Analysts and Investor Sentiment — I don’t buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it’s hard to make money swimming against the tide:

Wall Street analysts issued 1 buy, 2 hold and 2 sell recommendations on the stock

The individual investors following the stock on Motley Fool voted 96 to 29 for the stock to beat the market with the most experienced investors voting 14 to 4 for the same result

Value Line gives the stock its average rating of 3

CFRAs MarketScope has a buy recommendation

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