GAMMA Investing LLC Grows Holdings in Innoviva, Inc. $INVA

GAMMA Investing LLC grew its stake in Innoviva, Inc. (NASDAQ:INVA) by 58.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 7,146 shares of the biotechnology company’s stock after acquiring an additional 2,648 shares during the period. GAMMA Investing LLC’s holdings in Innoviva were worth $144,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Systematic Financial Management LP raised its stake in shares of Innoviva by 2.1% in the 1st quarter. Systematic Financial Management LP now owns 2,071,253 shares of the biotechnology company’s stock valued at $37,552,000 after acquiring an additional 42,184 shares during the period. Millennium Management LLC raised its stake in shares of Innoviva by 318.4% in the 1st quarter. Millennium Management LLC now owns 1,676,057 shares of the biotechnology company’s stock valued at $30,387,000 after acquiring an additional 1,275,444 shares during the period. American Century Companies Inc. raised its stake in shares of Innoviva by 17.6% in the 1st quarter. American Century Companies Inc. now owns 1,675,697 shares of the biotechnology company’s stock valued at $30,380,000 after acquiring an additional 251,382 shares during the period. Boston Partners raised its stake in shares of Innoviva by 26.9% in the 1st quarter. Boston Partners now owns 622,550 shares of the biotechnology company’s stock valued at $11,287,000 after acquiring an additional 132,146 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Innoviva by 132.4% in the 1st quarter. Victory Capital Management Inc. now owns 412,281 shares of the biotechnology company’s stock valued at $7,475,000 after acquiring an additional 234,898 shares during the period. 99.12% of the stock is owned by hedge funds and other institutional investors.

Innoviva Trading Up 0.9%

NASDAQ INVA opened at $19.03 on Tuesday. The company has a quick ratio of 2.44, a current ratio of 2.64 and a debt-to-equity ratio of 0.36. Innoviva, Inc. has a 52 week low of $16.67 and a 52 week high of $22.00. The stock has a market capitalization of $1.20 billion, a PE ratio of 61.39 and a beta of 0.47. The firm has a 50 day moving average of $19.56 and a two-hundred day moving average of $19.21.

Innoviva (NASDAQ:INVA) last posted 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. Innoviva had a net margin of 10.44% and a return on equity of 18.67%. The company had revenue of $100.28 million during the quarter, compared to analysts’ expectations of $87.10 million. As a group, research analysts expect that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Innoviva Company 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.