Boston Partners Boosts Holdings in Innoviva, Inc. $INVA

Boston Partners lifted its position in shares of Innoviva, Inc. (NASDAQ:INVA) by 40.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 875,084 shares of the biotechnology company’s stock after acquiring an additional 252,534 shares during the quarter. Boston Partners owned approximately 1.39% of Innoviva worth $17,578,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in INVA. Millennium Management LLC grew its position in Innoviva by 318.4% during the first quarter. Millennium Management LLC now owns 1,676,057 shares of the biotechnology company’s stock worth $30,387,000 after buying an additional 1,275,444 shares in the last quarter. Nuveen LLC purchased a new position in Innoviva in the 1st quarter worth approximately $7,307,000. American Century Companies Inc. boosted its position in Innoviva by 23.3% during the 2nd quarter. American Century Companies Inc. now owns 2,066,753 shares of the biotechnology company’s stock valued at $41,521,000 after buying an additional 391,056 shares during the period. Cubist Systematic Strategies LLC increased its holdings in Innoviva by 3,422.1% during the 1st quarter. Cubist Systematic Strategies LLC now owns 373,770 shares of the biotechnology company’s stock valued at $6,776,000 after purchasing an additional 363,158 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Innoviva by 484.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 292,208 shares of the biotechnology company’s stock worth $5,870,000 after acquiring an additional 242,193 shares during the period. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Wall Street Analysts Forecast Growth

INVA has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Innoviva in a research report on Tuesday. The Goldman Sachs Group initiated coverage on shares of Innoviva in a research report on Tuesday, September 30th. They set a “sell” rating and a $17.00 price objective on the stock. Oppenheimer assumed coverage on Innoviva in a research note on Monday, August 11th. They set an “outperform” rating and a $45.00 price target for the company. Zacks Research lowered Innoviva from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. Finally, HC Wainwright lifted their target price on shares of Innoviva from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Innoviva presently has a consensus rating of “Moderate Buy” and an average price target of $38.60.

Innoviva Stock Performance

NASDAQ INVA opened at $21.75 on Friday. The business’s 50 day moving average price is $19.13 and its 200-day moving average price is $19.56. The company has a market cap of $1.63 billion, a P/E ratio of 70.17 and a beta of 0.42. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.44 and a current ratio of 2.64. Innoviva, Inc. has a fifty-two week low of $16.52 and a fifty-two week high of $22.76.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.62. The firm had revenue of $107.80 million for the quarter, compared to the consensus estimate of $91.31 million. Innoviva had a return on equity of 18.67% and a net margin of 10.44%. Sell-side analysts predict that Innoviva, Inc. will post 0.33 earnings per share for the current 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.