33,280 Shares in Innoviva, Inc. $INVA Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new position in shares of Innoviva, Inc. (NASDAQ:INVA) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 33,280 shares of the biotechnology company’s stock, valued at approximately $607,000. Y Intercept Hong Kong Ltd owned 0.05% of Innoviva at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Elevation Point Wealth Partners LLC bought a new position in shares of Innoviva in the second quarter worth $43,000. EverSource Wealth Advisors LLC increased its holdings in Innoviva by 297.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,398 shares of the biotechnology company’s stock valued at $48,000 after buying an additional 1,795 shares during the period. Asset Management One Co. Ltd. bought a new position in Innoviva in the 3rd quarter valued at about $60,000. Toth Financial Advisory Corp acquired a new position in shares of Innoviva in the 3rd quarter valued at approximately $63,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Innoviva during the 2nd quarter worth approximately $92,000. 99.12% of the stock is currently owned by institutional investors.

Innoviva Stock Up 0.1%

Shares of INVA opened at $21.00 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 13.33 and a current ratio of 14.12. Innoviva, Inc. has a 52 week low of $16.52 and a 52 week high of $22.76. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 15.33 and a beta of 0.44. The stock has a fifty day moving average of $20.12 and a 200-day moving average of $19.59.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.62. The business had revenue of $107.80 million for the quarter, compared to analyst estimates of $91.31 million. Innoviva had a return on equity of 28.17% and a net margin of 32.78%. As a group, sell-side analysts anticipate that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

INVA has been the topic of several analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Innoviva in a research report on Monday, December 29th. HC Wainwright raised their target price on Innoviva from $45.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Wall Street Zen upgraded Innoviva from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 25th. Cantor Fitzgerald upped their price objective on Innoviva from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, Zacks Research lowered Innoviva from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 6th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $38.80.

Innoviva Company Profile

Innoviva, Inc, incorporated in Delaware and headquartered in San Francisco, California, is a royalty-focused life sciences company. It acquires, manages and monetizes royalty and license interests in biopharmaceutical products, with a primary emphasis on inhaled respiratory therapies. Innoviva’s portfolio is anchored by royalties on therapies originally developed by its former affiliate, now marketed by GlaxoSmithKline, including several long-acting inhaled products approved for chronic obstructive pulmonary disease (COPD) and asthma.

The company was established through a spin‐out transaction in 2014, separating the royalty assets from a research‐based biopharmaceutical enterprise to create a specialized investment vehicle.