Great West Life Assurance Co. Can decreased its position in Innoviva Inc (NASDAQ:INVA) by 10.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 99,070 shares of the biotechnology company’s stock after selling 12,180 shares during the period. Great West Life Assurance Co. Can owned about 0.09% of Innoviva worth $1,383,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. FMR LLC lifted its stake in Innoviva by 5.3% in the second quarter. FMR LLC now owns 16,017,256 shares of the biotechnology company’s stock valued at $205,021,000 after purchasing an additional 802,605 shares during the last quarter. Vanguard Group Inc. lifted its stake in Innoviva by 3.1% in the second quarter. Vanguard Group Inc. now owns 7,459,616 shares of the biotechnology company’s stock valued at $95,483,000 after purchasing an additional 226,969 shares during the last quarter. State Street Corp lifted its stake in Innoviva by 14.7% in the second quarter. State Street Corp now owns 2,717,255 shares of the biotechnology company’s stock valued at $34,782,000 after purchasing an additional 348,584 shares during the last quarter. Northern Trust Corp lifted its stake in Innoviva by 11.3% in the second quarter. Northern Trust Corp now owns 1,243,046 shares of the biotechnology company’s stock valued at $15,911,000 after purchasing an additional 126,246 shares during the last quarter. Finally, Nomura Holdings Inc. lifted its stake in Innoviva by 0.7% in the second quarter. Nomura Holdings Inc. now owns 881,097 shares of the biotechnology company’s stock valued at $11,277,000 after purchasing an additional 6,256 shares during the last quarter. Institutional investors and hedge funds own 74.41% of the company’s stock.
Several research firms recently commented on INVA. Robert W. Baird reiterated a “hold” rating and issued a $13.00 price objective on shares of Innoviva in a research note on Tuesday, October 24th. Stifel Nicolaus reiterated a “neutral” rating on shares of Innoviva in a research note on Friday, September 15th. BidaskClub upgraded Innoviva from a “hold” rating to a “buy” rating in a research note on Thursday. Deutsche Bank initiated coverage on shares of Innoviva in a report on Monday, November 20th. They set a “hold” rating and a $13.00 target price on the stock. Finally, Zacks Investment Research cut shares of Innoviva from a “buy” rating to a “hold” rating in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Innoviva presently has a consensus rating of “Hold” and an average target price of $13.50.
Shares of Innoviva Inc (NASDAQ:INVA) opened at $14.30 on Friday. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of -2.59. Innoviva Inc has a 1-year low of $10.29 and a 1-year high of $14.87. The stock has a market cap of $1,488.45, a price-to-earnings ratio of 15.84 and a beta of 2.52.
Innoviva (NASDAQ:INVA) last issued its earnings results on Wednesday, October 25th. The biotechnology company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.13). Innoviva had a net margin of 52.91% and a negative return on equity of 33.55%. The business had revenue of $48.64 million for the quarter, compared to the consensus estimate of $57.18 million. During the same period in the previous year, the firm earned $0.13 EPS. The company’s revenue was up 46.0% compared to the same quarter last year. equities research analysts forecast that Innoviva Inc will post 1.08 earnings per share for the current fiscal year.
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Innoviva, Inc, formerly Theravance, Inc, is engaged in the development, commercialization and financial management of bio-pharmaceuticals. It focuses on the respiratory assets partnered with Glaxo Group Limited (GSK), including RELVAR/BREO ELLIPTA (fluticasone furoate (FF)/vilanterol (VI)) and ANORO ELLIPTA (umeclidinium bromide/vilanterol (UMEC/VI)).
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