Schwab Charles Investment Management Inc. raised its position in shares of Innoviva Inc (NASDAQ:INVA) by 20.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 418,450 shares of the biotechnology company’s stock after acquiring an additional 69,750 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.39% of Innoviva worth $5,938,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in INVA. Sei Investments Co. raised its holdings in shares of Innoviva by 33,810.3% during the third quarter. Sei Investments Co. now owns 9,834 shares of the biotechnology company’s stock valued at $138,000 after acquiring an additional 9,805 shares during the last quarter. Macquarie Group Ltd. acquired a new position in shares of Innoviva during the third quarter valued at approximately $144,000. Jane Street Group LLC acquired a new position in shares of Innoviva during the third quarter valued at approximately $144,000. Magnetar Financial LLC acquired a new position in shares of Innoviva during the third quarter valued at approximately $182,000. Finally, Stevens Capital Management LP acquired a new position in shares of Innoviva during the third quarter valued at approximately $237,000. 75.01% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on the company. Deutsche Bank assumed coverage on Innoviva in a report on Monday, November 20th. They issued a “hold” rating and a $13.00 price target for the company. TheStreet raised Innoviva from a “c+” rating to a “b” rating in a report on Friday, February 9th. Zacks Investment Research raised Innoviva from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $17.00 price target on shares of Innoviva in a report on Friday, February 9th. Finally, BidaskClub raised Innoviva from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Innoviva currently has an average rating of “Hold” and an average target price of $13.83.
Shares of Innoviva Inc (NASDAQ INVA) opened at $15.61 on Tuesday. Innoviva Inc has a fifty-two week low of $11.02 and a fifty-two week high of $17.21. The company has a debt-to-equity ratio of -2.37, a current ratio of 5.77 and a quick ratio of 5.77. The company has a market capitalization of $1,653.62, a P/E ratio of 14.00 and a beta of 2.34.
Innoviva (NASDAQ:INVA) last posted its quarterly earnings results on Thursday, February 8th. The biotechnology company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.49 by $0.01. Innoviva had a negative return on equity of 48.93% and a net margin of 61.76%. The firm had revenue of $69.52 million during the quarter, compared to analysts’ expectations of $67.41 million. During the same quarter last year, the firm earned $0.22 earnings per share. The business’s revenue for the quarter was up 59.4% on a year-over-year basis. research analysts forecast that Innoviva Inc will post 2 EPS for the current year.
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)).
Want to see what other hedge funds are holding INVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Innoviva Inc (NASDAQ:INVA).
Receive News & Ratings for Innoviva Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innoviva and related companies with MarketBeat.com's FREE daily email newsletter.