Innoviva initiated with an Outperform at Oppenheimer

Oppenheimer initiated coverage of Innoviva (INVA) with an Outperform rating and $35 price target Innoviva is a holding company comprised of royalty distributions from Breo and Anoro, a specialty therapeutics unit with assets for treating acute critical care, and a strategic finance equity investments arm, the analyst tells investors in a research note. The firm believes the company’s specialty therapeutics and royalty commercial results will drive share outperformance.