Innoviva, Inc. $INVA Shares Sold by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS decreased its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 8.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,100 shares of the biotechnology company’s stock after selling 6,300 shares during the period. KLP Kapitalforvaltning AS owned approximately 0.11% of Innoviva worth $1,328,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Systematic Financial Management LP increased its stake in Innoviva by 2.1% during 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 buying an additional 42,184 shares during the period. Millennium Management LLC increased its stake in Innoviva by 318.4% during the 1st quarter. Millennium Management LLC now owns 1,676,057 shares of the biotechnology company’s stock valued at $30,387,000 after buying an additional 1,275,444 shares during the period. American Century Companies Inc. increased its stake in Innoviva by 17.6% during 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 buying an additional 251,382 shares during the period. Boston Partners increased its stake in Innoviva by 26.9% during the 1st quarter. Boston Partners now owns 622,550 shares of the biotechnology company’s stock valued at $11,287,000 after buying an additional 132,146 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Innoviva by 132.4% during the 1st quarter. Victory Capital Management Inc. now owns 412,281 shares of the biotechnology company’s stock valued at $7,475,000 after buying an additional 234,898 shares during the period. Institutional investors and hedge funds own 99.12% of the company’s stock.

Innoviva Stock Performance

Innoviva stock opened at $16.94 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.64 and a quick ratio of 2.44. The company has a market cap of $1.07 billion, a P/E ratio of 54.65 and a beta of 0.40. The firm’s 50 day simple moving average is $19.32 and its 200-day simple moving average is $19.22. Innoviva, Inc. has a fifty-two week low of $16.67 and a fifty-two week high of $22.00.

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. The business 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%. As a group, equities research analysts predict that Innoviva, Inc. will post 0.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on INVA. Zacks Research raised shares of Innoviva from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Innoviva in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Innoviva from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 3rd. The Goldman Sachs Group assumed coverage on shares of Innoviva in a research report on Tuesday, September 30th. They issued a “sell” rating and a $17.00 target price on the stock. Finally, Oppenheimer assumed coverage on shares of Innoviva in a research report on Monday, August 11th. They issued an “outperform” rating and a $45.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $37.60.

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.