Wells Fargo & Company MN Purchases 10,637 Shares of Innoviva, Inc. (NASDAQ:INVA)

Wells Fargo & Company MN lifted its position in Innoviva, Inc. (NASDAQ:INVA) by 40.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,022 shares of the biotechnology company’s stock after purchasing an additional 10,637 shares during the quarter. Wells Fargo & Company MN owned 0.06% of Innoviva worth $642,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. O Shaughnessy Asset Management LLC boosted its stake in Innoviva by 3.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 263,870 shares of the biotechnology company’s stock worth $4,578,000 after buying an additional 8,240 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Innoviva by 7.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,146,243 shares of the biotechnology company’s stock valued at $19,887,000 after purchasing an additional 81,142 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Innoviva in the 4th quarter valued at $176,000. Norges Bank bought a new position in shares of Innoviva during the 4th quarter valued at $1,480,000. Finally, Prudential Financial Inc. raised its position in Innoviva by 157.8% in the 4th quarter. Prudential Financial Inc. now owns 180,122 shares of the biotechnology company’s stock worth $3,404,000 after purchasing an additional 110,246 shares during the period. 99.12% of the stock is currently owned by institutional investors.

Insider Activity at Innoviva

In other Innoviva news, major shareholder Alexander J. Denner sold 151,175 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $17.63, for a total value of $2,665,215.25. Following the completion of the transaction, the insider now directly owns 7,125,825 shares in the company, valued at approximately $125,628,294.75. This represents a 2.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.25% of the stock is owned by company insiders.

Innoviva Stock Up 0.4 %

Shares of NASDAQ INVA opened at $18.72 on Friday. The firm’s fifty day moving average is $17.81 and its 200 day moving average is $18.38. Innoviva, Inc. has a 52 week low of $15.07 and a 52 week high of $21.28. 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 company has a market cap of $1.17 billion, a price-to-earnings ratio of 27.13 and a beta of 0.48.

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

Analysts Set New Price Targets

INVA has been the topic of a number of recent research reports. StockNews.com raised Innoviva from a “hold” rating to a “buy” rating in a research note on Wednesday. Scotiabank began coverage on Innoviva in a report on Friday, March 7th. They set a “sector outperform” rating and a $55.00 target price for the company.

Innoviva 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.