Berenberg Starts Inova Technology, Inc. (INVA) at Buy
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Berenberg initiates coverage on Inova Technology, Inc. (NASDAQ: INVA) with a Buy rating and a price target of $22.00.
Analyst Patrick Trucchio commented, "We initiate coverage on Innoviva, a US-based pharma company focused on maximising the value on royalties on partnered products. We believe the risk-reward tied to Innoviva’s shares is in investors’ favour, based primarily on GlaxoSmithKline/Innoviva’s continued successful commercialisation of COPD and asthma treatments, Relvar/Breo Ellipta and Anoro Ellipta, combined with Sarissa Capital’s activist involvement, which we believe could drive a value-creation event."
Shares of Inova Technology, Inc. closed at $15.90 yesterday.
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