5 Cheap Biotech Stocks To Buy

2. Innoviva, Inc. (NASDAQ:INVA)

Number of Hedge Fund Holders: 20

P/E ratio as of January 22: 3.93

Innoviva, Inc. (NASDAQ:INVA) is an American biotech company. It develops and commercializes pharmaceuticals in the US and internationally.

Analysts at Goldman Sachs see an 8.7% upside potential in Innoviva, Inc. (NASDAQ:INVA). The stock is also operating at a P/E ratio of 3.93 as of this January, making it seem undervalued in the biotech space, in comparison to its competitors.

There were 20 hedge funds long Innoviva, Inc. (NASDAQ:INVA) in the third quarter, with a total stake value of $201 million.

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