Intech Investment Management LLC Has $609,000 Position in Innoviva, Inc. (NASDAQ:INVA)

Intech Investment Management LLC raised its position in Innoviva, Inc. (NASDAQ:INVA) by 79.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,128 shares of the biotechnology company’s stock after buying an additional 15,591 shares during the quarter. Intech Investment Management LLC’s holdings in Innoviva were worth $609,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in INVA. KBC Group NV grew its position in shares of Innoviva by 73.9% during the 4th quarter. KBC Group NV now owns 4,100 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 1,743 shares in the last quarter. FMR LLC increased its stake in Innoviva by 8.2% in the third quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock valued at $195,000 after acquiring an additional 771 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Innoviva during the 3rd quarter worth $214,000. World Investment Advisors LLC acquired a new position in Innoviva during the third quarter worth about $217,000. Finally, Caprock Group LLC acquired a new position in Innoviva during the 3rd quarter worth approximately $229,000. Institutional investors own 99.12% of the company’s stock.

Innoviva Trading Up 0.3 %

INVA opened at $17.33 on Tuesday. The company has a fifty day moving average price of $18.03 and a two-hundred day moving average price of $18.68. Innoviva, Inc. has a 1-year low of $14.33 and a 1-year high of $21.28. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. The company has a market cap of $1.09 billion, a P/E ratio of 25.12 and a beta of 0.56.

Innoviva (NASDAQ:INVA) last released its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.57 earnings per share for the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. The firm had revenue of $91.81 million for the quarter. Analysts predict that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com raised Innoviva from a “hold” rating to a “buy” rating in a report on Monday. Scotiabank initiated coverage on shares of Innoviva in a research note on Friday, March 7th. They set a “sector outperform” rating and a $55.00 target price for the company.

Insider Buying and Selling

In related news, major shareholder Alexander J. Denner sold 1,196,746 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $17.52, for a total transaction of $20,966,989.92. Following the transaction, the insider now directly owns 5,658,705 shares in the company, valued at approximately $99,140,511.60. The trade was a 17.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is currently owned by corporate insiders.

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.