American Century Companies Inc. Grows Stock Position in Innoviva, Inc. $INVA

American Century Companies Inc. lifted its position in Innoviva, Inc. (NASDAQ:INVA) by 13.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,351,006 shares of the biotechnology company’s stock after purchasing an additional 284,253 shares during the period. American Century Companies Inc.’s holdings in Innoviva were worth $42,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of INVA. Arrowstreet Capital Limited Partnership raised its stake in Innoviva by 85.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,708,482 shares of the biotechnology company’s stock valued at $34,323,000 after purchasing an additional 786,409 shares during the last quarter. Bank of America Corp DE lifted its stake in Innoviva by 10.9% in the 2nd quarter. Bank of America Corp DE now owns 1,545,249 shares of the biotechnology company’s stock worth $31,044,000 after purchasing an additional 151,957 shares in the last quarter. Geode Capital Management LLC lifted its stake in Innoviva by 7.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,522,622 shares of the biotechnology company’s stock worth $30,593,000 after purchasing an additional 102,194 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Innoviva by 870.3% during the 2nd quarter. Marshall Wace LLP now owns 1,332,966 shares of the biotechnology company’s stock worth $26,779,000 after purchasing an additional 1,195,596 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of Innoviva by 40.6% during the 2nd quarter. Boston Partners now owns 875,084 shares of the biotechnology company’s stock worth $17,578,000 after purchasing an additional 252,534 shares during the last quarter. Institutional investors and hedge funds own 99.12% of the company’s stock.

Innoviva Stock Down 0.7%

Innoviva stock opened at $22.03 on Friday. The company has a current ratio of 14.64, a quick ratio of 13.85 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 7.22 and a beta of 0.42. The stock has a 50 day moving average of $21.13 and a two-hundred day moving average of $20.15. Innoviva, Inc. has a twelve month low of $16.52 and a twelve month high of $25.15.

Innoviva (NASDAQ:INVA) last released its earnings results on Wednesday, February 25th. The biotechnology company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $1.60. The company had revenue of $114.61 million for the quarter, compared to analysts’ expectations of $102.62 million. Innoviva had a return on equity of 37.63% and a net margin of 65.92%. As a group, research analysts expect that Innoviva, Inc. will post 0.33 earnings per share for the current year.

Analyst Ratings Changes

INVA has been the subject of several recent analyst reports. BTIG Research restated a “buy” rating and set a $35.00 price objective on shares of Innoviva in a research report on Thursday, February 26th. HC Wainwright increased their price target on shares of Innoviva from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Innoviva in a report on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Innoviva presently has an average rating of “Moderate Buy” and a consensus target price of $34.80.

Innoviva Profile

Innoviva, Inc, incorporated in Delaware and headquartered in San Francisco, California, is a royalty-focused life sciences company. It acquires, manages and monetizes royalty and license interests in biopharmaceutical products, with a primary emphasis on inhaled respiratory therapies. Innoviva’s portfolio is anchored by royalties on therapies originally developed by its former affiliate, now marketed by GlaxoSmithKline, including several long-acting inhaled products approved for chronic obstructive pulmonary disease (COPD) and asthma.

The company was established through a spin‐out transaction in 2014, separating the royalty assets from a research‐based biopharmaceutical enterprise to create a specialized investment vehicle.