Allianz Asset Management GmbH Has $3.59 Million Holdings in Innoviva, Inc. $INVA

Allianz Asset Management GmbH boosted its holdings in Innoviva, Inc. (NASDAQ:INVA) by 139.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 196,831 shares of the biotechnology company’s stock after purchasing an additional 114,549 shares during the quarter. Allianz Asset Management GmbH owned about 0.31% of Innoviva worth $3,592,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of INVA. Bank of Montreal Can increased its holdings in Innoviva by 4.2% during the 2nd quarter. Bank of Montreal Can now owns 18,853 shares of the biotechnology company’s stock worth $379,000 after purchasing an additional 767 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Innoviva by 6.3% during the third quarter. Oregon Public Employees Retirement Fund now owns 13,507 shares of the biotechnology company’s stock worth $247,000 after acquiring an additional 800 shares during the period. Teacher Retirement System of Texas grew its stake in Innoviva by 5.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 16,053 shares of the biotechnology company’s stock valued at $323,000 after purchasing an additional 889 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Innoviva by 7.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,183 shares of the biotechnology company’s stock valued at $285,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its position in shares of Innoviva by 18.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,429 shares of the biotechnology company’s stock valued at $129,000 after purchasing an additional 1,007 shares during the last quarter. Institutional investors and hedge funds own 99.12% of the company’s stock.

Innoviva Stock Performance

NASDAQ INVA opened at $21.84 on Wednesday. Innoviva, Inc. has a 12-month low of $16.52 and a 12-month high of $22.76. The company has a quick ratio of 13.33, a current ratio of 14.12 and a debt-to-equity ratio of 0.25. The company has a 50-day simple moving average of $20.14 and a two-hundred day simple moving average of $19.67. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 15.94 and a beta of 0.44.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on INVA shares. Weiss Ratings reissued a “buy (b)” rating on shares of Innoviva in a report on Monday, December 29th. Wall Street Zen raised Innoviva from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 25th. Zacks Research downgraded shares of Innoviva from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. HC Wainwright boosted their price objective on shares of Innoviva from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Finally, Cantor Fitzgerald increased their target price on shares of Innoviva from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Five 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.80.

Innoviva 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.