17,426 Shares in Innoviva, Inc. $INVA Purchased by Ballentine Partners LLC

Ballentine Partners LLC acquired a new position in shares of Innoviva, Inc. (NASDAQ:INVA) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 17,426 shares of the biotechnology company’s stock, valued at approximately $350,000.

Other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in Innoviva during the 1st quarter valued at approximately $737,000. Principal Financial Group Inc. grew its holdings in shares of Innoviva by 2.6% during the first quarter. Principal Financial Group Inc. now owns 305,476 shares of the biotechnology company’s stock valued at $5,538,000 after buying an additional 7,700 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Innoviva by 10.3% in the 1st quarter. Farther Finance Advisors LLC now owns 8,516 shares of the biotechnology company’s stock worth $153,000 after acquiring an additional 795 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Innoviva by 356.0% during the first quarter. US Bancorp DE now owns 12,753 shares of the biotechnology company’s stock worth $231,000 after purchasing an additional 9,956 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Innoviva by 6.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,324 shares of the biotechnology company’s stock valued at $2,435,000 after buying an additional 8,875 shares during the last quarter. 99.12% of the stock is owned by institutional investors and hedge funds.

Innoviva Stock Up 1.6%

INVA stock opened at $18.86 on Monday. Innoviva, Inc. has a one year low of $16.67 and a one year high of $22.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.44 and a current ratio of 2.64. The firm has a market cap of $1.19 billion, a PE ratio of 60.84 and a beta of 0.47. The firm’s 50 day moving average price is $19.57 and its 200-day moving average price is $19.20.

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on INVA shares. HC Wainwright lifted their price target on Innoviva from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, August 11th. Wall Street Zen upgraded shares of Innoviva from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 21st. Oppenheimer assumed coverage on shares of Innoviva in a research report on Monday, August 11th. They issued an “outperform” rating and a $45.00 price objective for the company. Finally, Cantor Fitzgerald began coverage on shares of Innoviva in a research note on Friday, July 11th. They set an “overweight” rating and a $26.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $42.75.

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.