Louisiana State Employees Retirement System Makes New $452,000 Investment in Innoviva, Inc. (NASDAQ:INVA)

Louisiana State Employees Retirement System purchased a new position in shares of Innoviva, Inc. (NASDAQ:INVA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 28,200 shares of the biotechnology company’s stock, valued at approximately $452,000.

Other hedge funds have also made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in shares of Innoviva during the third quarter worth about $29,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Innoviva by 342.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,410 shares of the biotechnology company’s stock worth $119,000 after purchasing an additional 5,736 shares in the last quarter. Avantax Advisory Services Inc. acquired a new stake in shares of Innoviva during the third quarter worth about $137,000. Profund Advisors LLC lifted its position in shares of Innoviva by 7.9% during the third quarter. Profund Advisors LLC now owns 11,879 shares of the biotechnology company’s stock worth $154,000 after purchasing an additional 871 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Innoviva by 11.1% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,000 shares of the biotechnology company’s stock worth $156,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 99.12% of the company’s stock.

Wall Street Analyst Weigh In

INVA has been the topic of several research reports. TheStreet raised shares of Innoviva from a “c” rating to a “b-” rating in a research report on Thursday, February 29th. StockNews.com raised shares of Innoviva from a “hold” rating to a “buy” rating in a report on Friday, March 29th.

Innoviva Stock Up 1.8 %

Shares of NASDAQ:INVA opened at $15.54 on Tuesday. The firm’s 50 day moving average price is $15.00 and its 200 day moving average price is $14.96. The stock has a market cap of $982.59 million, a price-to-earnings ratio of 7.13 and a beta of 0.57. Innoviva, Inc. has a fifty-two week low of $11.37 and a fifty-two week high of $16.86. The company has a quick ratio of 7.96, a current ratio of 9.03 and a debt-to-equity ratio of 0.66.

Innoviva (NASDAQ:INVA) last issued its earnings results on Thursday, February 29th. The biotechnology company reported $0.76 earnings per share for the quarter. The firm had revenue of $85.84 million for the quarter. Innoviva had a net margin of 57.89% and a return on equity of 30.37%.

Innoviva Company Profile

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.