SG Americas Securities LLC Decreases Stock Holdings in Innoviva, Inc. $INVA

SG Americas Securities LLC lowered its holdings in Innoviva, Inc. (NASDAQ:INVA) by 78.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,160 shares of the biotechnology company’s stock after selling 40,016 shares during the period. SG Americas Securities LLC’s holdings in Innoviva were worth $260,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Planning raised its position in Innoviva by 0.8% in the third quarter. Creative Planning now owns 61,365 shares of the biotechnology company’s stock valued at $1,120,000 after purchasing an additional 461 shares during the period. Bailard Inc. boosted its position in shares of Innoviva by 4.7% in the fourth quarter. Bailard Inc. now owns 10,933 shares of the biotechnology company’s stock worth $219,000 after buying an additional 492 shares during the period. Verition Fund Management LLC boosted its position in shares of Innoviva by 0.3% in the third quarter. Verition Fund Management LLC now owns 175,855 shares of the biotechnology company’s stock worth $3,209,000 after buying an additional 527 shares during the period. Bank of Montreal Can grew its stake in shares of Innoviva by 3.8% in the fourth quarter. Bank of Montreal Can now owns 14,742 shares of the biotechnology company’s stock valued at $295,000 after buying an additional 540 shares in the last quarter. Finally, Vise Technologies Inc. grew its stake in shares of Innoviva by 6.1% in the third quarter. Vise Technologies Inc. now owns 12,581 shares of the biotechnology company’s stock valued at $230,000 after buying an additional 724 shares in the last quarter. Institutional investors and hedge funds own 99.12% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. HC Wainwright reissued a “buy” rating and set a $46.00 price target on shares of Innoviva in a research report on Monday, June 1st. BTIG Research reiterated a “buy” rating and set a $42.00 price objective on shares of Innoviva in a research note on Monday, June 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Innoviva in a research note on Wednesday, June 24th. Finally, Wall Street Zen raised shares of Innoviva from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. 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 currently has a consensus rating of “Moderate Buy” and an average target price of $36.20.

Innoviva Trading Up 0.2%

Shares of INVA opened at $22.24 on Friday. Innoviva, Inc. has a one year low of $16.52 and a one year high of $25.15. The stock has a 50-day moving average price of $22.46 and a 200 day moving average price of $22.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 20.07 and a current ratio of 21.13. The company has a market capitalization of $1.64 billion, a P/E ratio of 3.70 and a beta of 0.34.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $97.99 million for the quarter, compared to the consensus estimate of $101.57 million. Innoviva had a return on equity of 33.33% and a net margin of 119.89%. Sell-side analysts forecast that Innoviva, Inc. will post 2.2 EPS for the current fiscal year.

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.