Intech Investment Management LLC Increases Stock Holdings in Innoviva, Inc. $INVA

Intech Investment Management LLC increased its holdings in Innoviva, Inc. (NASDAQ:INVA) by 499.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 220,222 shares of the biotechnology company’s stock after purchasing an additional 183,458 shares during the period. Intech Investment Management LLC owned 0.29% of Innoviva worth $4,402,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in shares of Innoviva by 297.7% in the second quarter. EverSource Wealth Advisors LLC now owns 2,398 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 1,795 shares during the period. Danske Bank A S purchased a new stake in shares of Innoviva in the third quarter valued at $55,000. Mirae Asset Global Investments Co. Ltd. grew its position in Innoviva by 49.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,633 shares of the biotechnology company’s stock valued at $73,000 after acquiring an additional 1,197 shares during the period. Lazard Asset Management LLC purchased a new stake in Innoviva during the second quarter valued at about $92,000. Finally, Strs Ohio purchased a new stake in Innoviva during the fourth quarter valued at about $130,000. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Innoviva Price Performance

INVA stock opened at $21.42 on Monday. The stock has a 50-day moving average price of $22.90 and a two-hundred day moving average price of $21.76. Innoviva, Inc. has a 12-month low of $16.52 and a 12-month high of $25.15. The company has a current ratio of 21.13, a quick ratio of 20.07 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.58 billion, a PE ratio of 3.56 and a beta of 0.35.

Innoviva (NASDAQ:INVA) last issued its earnings results on Wednesday, May 6th. The biotechnology company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Innoviva had a return on equity of 33.33% and a net margin of 119.89%.The company had revenue of $97.99 million during the quarter, compared to the consensus estimate of $101.57 million. As a group, research analysts predict that Innoviva, Inc. will post 1.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on INVA shares. Weiss Ratings reissued a “buy (b)” rating on shares of Innoviva in a research report on Friday, March 27th. Wall Street Zen downgraded Innoviva from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, BTIG Research reissued a “buy” rating and set a $42.00 price target on shares of Innoviva in a research report on Tuesday, May 26th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.20.

Innoviva Company 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.