Victory Capital Management Inc. Grows Stake in Innoviva, Inc. (NASDAQ:INVA)

Victory Capital Management Inc. lifted its position in Innoviva, Inc. (NASDAQ:INVA) by 3.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 140,454 shares of the biotechnology company’s stock after buying an additional 4,699 shares during the period. Victory Capital Management Inc. owned approximately 0.22% of Innoviva worth $2,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in Innoviva in the 1st quarter worth $138,000. ProShare Advisors LLC raised its holdings in Innoviva by 6.2% in the 1st quarter. ProShare Advisors LLC now owns 16,150 shares of the biotechnology company’s stock worth $246,000 after purchasing an additional 942 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in Innoviva by 108.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 73,066 shares of the biotechnology company’s stock worth $1,114,000 after purchasing an additional 38,080 shares during the period. Bessemer Group Inc. raised its holdings in Innoviva by 333.5% in the 1st quarter. Bessemer Group Inc. now owns 2,211 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 1,701 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Innoviva by 4.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 49,560 shares of the biotechnology company’s stock worth $755,000 after purchasing an additional 2,242 shares during the period. 99.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on INVA shares. StockNews.com cut Innoviva from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 6th. Cantor Fitzgerald reissued an “overweight” rating on shares of Innoviva in a report on Tuesday, July 30th.

Innoviva Price Performance

NASDAQ:INVA opened at $19.15 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38. The business’s 50-day simple moving average is $19.60 and its two-hundred day simple moving average is $18.08. The stock has a market cap of $1.20 billion, a PE ratio of 27.75 and a beta of 0.57. Innoviva, Inc. has a 52 week low of $13.57 and a 52 week high of $21.28.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.25). The business had revenue of $89.51 million for the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. As a group, analysts forecast that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

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.