Innoviva, Inc. (NASDAQ:INVA) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in Innoviva, Inc. (NASDAQ:INVA) by 2.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 305,476 shares of the biotechnology company’s stock after purchasing an additional 7,700 shares during the quarter. Principal Financial Group Inc. owned about 0.49% of Innoviva worth $5,538,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its holdings in Innoviva by 75.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,962 shares of the biotechnology company’s stock valued at $86,000 after purchasing an additional 2,128 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Innoviva by 10.3% in the first quarter. Farther Finance Advisors LLC now owns 8,516 shares of the biotechnology company’s stock valued at $153,000 after purchasing an additional 795 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in Innoviva in the fourth quarter valued at approximately $176,000. Cubist Systematic Strategies LLC acquired a new position in Innoviva in the fourth quarter valued at approximately $184,000. Finally, Bridgefront Capital LLC acquired a new position in Innoviva in the fourth quarter valued at approximately $229,000. 99.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on INVA shares. Cantor Fitzgerald started coverage on Innoviva in a report on Friday, July 11th. They issued an “overweight” rating and a $26.00 price target for the company. HC Wainwright began coverage on Innoviva in a report on Monday. They issued a “buy” rating and a $40.00 price target for the company. Finally, Wall Street Zen raised Innoviva from a “hold” rating to a “buy” rating in a report on Wednesday, April 30th.

Innoviva Price Performance

NASDAQ:INVA opened at $20.25 on Thursday. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -20.05 and a beta of 0.37. The company has a current ratio of 2.48, a quick ratio of 2.30 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average is $19.87 and its two-hundred day moving average is $18.62. Innoviva, Inc. has a 12-month low of $16.67 and a 12-month high of $22.00.

Innoviva (NASDAQ:INVA) last released its earnings results on Wednesday, May 7th. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter. Innoviva had a negative net margin of 16.15% and a positive return on equity of 15.77%. The company had revenue of $88.63 million for the quarter. Research analysts expect that Innoviva, Inc. will post 0.33 EPS for the current year.

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.