Nuveen LLC Acquires New Stake in Innoviva, Inc. $INVA

Nuveen LLC acquired a new stake in shares of Innoviva, Inc. (NASDAQ:INVA) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 403,021 shares of the biotechnology company’s stock, valued at approximately $7,307,000. Nuveen LLC owned 0.64% of Innoviva as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. BOKF NA boosted its holdings in Innoviva by 2.3% during the 4th quarter. BOKF NA now owns 28,648 shares of the biotechnology company’s stock valued at $495,000 after acquiring an additional 641 shares during the period. Farther Finance Advisors LLC boosted its holdings in Innoviva by 10.3% during the 1st quarter. Farther Finance Advisors LLC now owns 8,516 shares of the biotechnology company’s stock valued at $153,000 after acquiring an additional 795 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Innoviva by 3.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,490 shares of the biotechnology company’s stock valued at $546,000 after acquiring an additional 1,162 shares during the period. Kendall Capital Management boosted its holdings in Innoviva by 4.5% during the 1st quarter. Kendall Capital Management now owns 35,115 shares of the biotechnology company’s stock valued at $637,000 after acquiring an additional 1,500 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in Innoviva by 5.2% during the 4th quarter. MetLife Investment Management LLC now owns 34,961 shares of the biotechnology company’s stock valued at $607,000 after acquiring an additional 1,731 shares during the period. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on INVA shares. Oppenheimer began coverage on Innoviva in a report on Monday, August 11th. They set an “outperform” rating and a $45.00 price objective for the company. HC Wainwright lifted their target price on Innoviva from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, August 11th. Cantor Fitzgerald began coverage on Innoviva in a research report on Friday, July 11th. They set an “overweight” rating and a $26.00 target price for the company. Finally, Wall Street Zen lowered Innoviva from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Innoviva has an average rating of “Buy” and an average price target of $42.75.

Innoviva Trading Up 1.0%

INVA opened at $20.16 on Monday. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 65.03 and a beta of 0.38. The company has a current ratio of 2.64, a quick ratio of 2.44 and a debt-to-equity ratio of 0.36. Innoviva, Inc. has a 12 month low of $16.67 and a 12 month high of $22.00. The stock has a fifty day moving average price of $19.70 and a 200-day moving average price of $18.87.

Innoviva (NASDAQ:INVA) last released its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.57 by $0.20. The firm had revenue of $100.28 million during the quarter, compared to analyst estimates of $87.10 million. Innoviva had a return on equity of 18.67% and a net margin of 10.44%. As a group, equities research analysts anticipate that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal 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.