Squarepoint Ops LLC Cuts Holdings in Innoviva, Inc. $INVA

Squarepoint Ops LLC lowered its stake in Innoviva, Inc. (NASDAQ:INVA) by 11.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,515 shares of the biotechnology company’s stock after selling 29,826 shares during the period. Squarepoint Ops LLC owned about 0.37% of Innoviva worth $4,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Martingale Asset Management L P increased its stake in shares of Innoviva by 0.7% during the first quarter. Martingale Asset Management L P now owns 78,412 shares of the biotechnology company’s stock worth $1,422,000 after buying an additional 570 shares during the period. Bank of Montreal Can grew its holdings in Innoviva by 4.2% during the 2nd quarter. Bank of Montreal Can now owns 18,853 shares of the biotechnology company’s stock worth $379,000 after acquiring an additional 767 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Innoviva by 5.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 16,053 shares of the biotechnology company’s stock valued at $323,000 after purchasing an additional 889 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Innoviva by 7.6% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,183 shares of the biotechnology company’s stock valued at $285,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its position in shares of Innoviva by 18.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,429 shares of the biotechnology company’s stock worth $129,000 after purchasing an additional 1,007 shares during the last quarter. 99.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on INVA. The Goldman Sachs Group started coverage on Innoviva in a report on Tuesday, September 30th. They issued a “sell” rating and a $17.00 target price on the stock. Wall Street Zen raised Innoviva from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 25th. Cantor Fitzgerald raised their target price on Innoviva from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Zacks Research cut Innoviva from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Innoviva in a report on Monday, December 8th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Innoviva currently has an average rating of “Moderate Buy” and a consensus price target of $38.60.

Innoviva Stock Performance

Shares of INVA stock opened at $20.14 on Tuesday. The stock’s 50-day moving average is $19.64 and its two-hundred day moving average is $19.73. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 14.70 and a beta of 0.47. Innoviva, Inc. has a 1 year low of $16.52 and a 1 year high of $22.76. The company has a debt-to-equity ratio of 0.25, a quick ratio of 13.33 and a current ratio of 14.12.

Innoviva (NASDAQ:INVA) last posted its earnings results on Wednesday, November 5th. The biotechnology company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.62. The business had revenue of $107.80 million during the quarter, compared to the consensus estimate of $91.31 million. Innoviva had a return on equity of 28.17% and a net margin of 32.78%. Analysts predict that Innoviva, Inc. will post 0.33 earnings per share for the current year.

About Innoviva

Innoviva, Inc engages in the development and commercialization of pharmaceutical products in the United States and internationally. The company’s products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a LABA, vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate; ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA) and umeclidinium bromide (UMEC) with a LABA, VI; GIAPREZA (angiotensin II), a vasoconstrictor to increase blood pressure in adults with septic or other distributive shock; XERAVA (eravacycline) for the treatment of complicated intra-abdominal infections in adults; and XACDURO, a beta lactamase inhibitor for the treatment of hospital-acquired bacterial pneumonia and ventilator-associated bacterial pneumonia.