H.C. Wainwright Lifts PT on Innoviva (INVA) to $46 From $45, Keeps a Buy Rating

Innoviva, Inc. (NASDAQ:INVA) is one of the best small cap stocks to buy with huge upside potential. Innoviva, Inc. (NASDAQ:INVA) received a rating update from H.C. Wainwright on December 16, who lifted the price target to $46 from $45 while keeping a Buy rating on the stock.

The rating update came after Innoviva, Inc. (NASDAQ:INVA) reported the FDA approval of NUZOLVENCE® (zoliflodacin) on December 12, with the firm telling investors that zoliflodacin’s approval came on schedule. Zoliflodacin is a first-in-class, single-dose, oral antibiotic to treat uncomplicated urogenital gonorrhea in adults and pediatric patients 12 years and older weighing at least 35 kg.

NUZOLVENCE’s development was a part of a not-for-profit, private collaboration with the The Global Antibiotic Research and Development Partnership (GARDP), which led and sponsored the Phase 3 clinical trial.

Innoviva, Inc. (NASDAQ:INVA) reported that the FDA approval was based on the results from this Phase 3 clinical trial, which was the largest ever conducted for a new treatment against Neisseria gonorrhoeae infection in regions with a high prevalence of gonorrhea across five countries. The approval makes NUZOLVENCE one of the first new FDA-approved treatments for the condition in nearly two decades.

Innoviva, Inc. (NASDAQ:INVA) is involved in the development, commercialization, and financial management of biopharmaceuticals.

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Disclosure: None. This article is originally published at Insider Monkey.