The chart of the day belongs to the biopharma company Innoviva (INVA), states Jim Van Meerten of BarChart.com.
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 a Trend Seeker buy signal. I 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 Averages
Innoviva, 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 a 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
- Trend Seeker buy signal
- 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 a 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 five 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 one buy, two hold, and two 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 four for the same result
- Value Line gives the stock its average rating of three
- CFRAs MarketScope has a buy recommendation
- 13,760 investors monitor the stock on Seeking Alpha
Additional Disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least weekly.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
