State of Alaska Department of Revenue Has $659,000 Holdings in Innoviva, Inc. $INVA

State of Alaska Department of Revenue lifted its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 7.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,874 shares of the biotechnology company’s stock after buying an additional 2,349 shares during the period. State of Alaska Department of Revenue owned about 0.05% of Innoviva worth $659,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Martingale Asset Management L P boosted its position in Innoviva by 0.7% during the first quarter. Martingale Asset Management L P now owns 78,412 shares of the biotechnology company’s stock valued at $1,422,000 after acquiring an additional 570 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Innoviva by 10.3% during the first 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 last quarter. Parallel Advisors LLC boosted its position in Innoviva by 157.5% during the second quarter. Parallel Advisors LLC now owns 1,849 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 1,131 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Innoviva by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,882 shares of the biotechnology company’s stock valued at $596,000 after acquiring an additional 1,392 shares during the last quarter. Finally, Uniplan Investment Counsel Inc. boosted its position in Innoviva by 0.6% during the first quarter. Uniplan Investment Counsel Inc. now owns 243,507 shares of the biotechnology company’s stock valued at $4,415,000 after acquiring an additional 1,493 shares during the last quarter. 99.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

INVA has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Innoviva from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 3rd. Cantor Fitzgerald initiated coverage on shares of Innoviva in a research report on Friday, July 11th. They set an “overweight” rating and a $26.00 price target on the stock. Oppenheimer initiated coverage on shares of Innoviva in a research report on Monday, August 11th. They set an “outperform” rating and a $45.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Innoviva in a research report on Saturday, September 27th. Finally, HC Wainwright increased their price objective on shares of Innoviva from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Innoviva has an average rating of “Moderate Buy” and an average target price of $37.60.

Innoviva Price Performance

Shares of NASDAQ INVA opened at $17.20 on Wednesday. Innoviva, Inc. has a fifty-two week low of $16.67 and a fifty-two week high of $22.00. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 55.49 and a beta of 0.40. 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’s 50-day simple moving average is $19.42 and its 200 day simple moving average is $19.22.

Innoviva (NASDAQ:INVA) last announced its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $0.77 earnings per share for the quarter, beating 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 business had revenue of $100.28 million for the quarter, compared to analysts’ expectations of $87.10 million. As a group, research analysts anticipate that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

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.