California State Teachers Retirement System lessened its holdings in shares of Innoviva, Inc. (NASDAQ:INVA) by 15.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 134,538 shares of the biotechnology company’s stock after selling 24,671 shares during the quarter. California State Teachers Retirement System owned approximately 0.12% of Innoviva worth $1,722,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of INVA. BlackRock Inc. lifted its stake in shares of Innoviva by 68,215.3% during the 1st quarter. BlackRock Inc. now owns 12,000,259 shares of the biotechnology company’s stock worth $165,964,000 after purchasing an additional 11,982,693 shares during the period. FMR LLC increased its holdings in shares of Innoviva by 5.3% during the 2nd quarter. FMR LLC now owns 16,017,256 shares of the biotechnology company’s stock worth $205,021,000 after buying an additional 802,605 shares during the last quarter. Marshall Wace North America L.P. increased its holdings in shares of Innoviva by 3,296.8% during the 2nd quarter. Marshall Wace North America L.P. now owns 822,356 shares of the biotechnology company’s stock worth $10,691,000 after buying an additional 798,146 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Innoviva by 651.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 801,994 shares of the biotechnology company’s stock worth $10,266,000 after buying an additional 695,272 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Innoviva by 8.5% during the 1st quarter. Vanguard Group Inc. now owns 7,232,647 shares of the biotechnology company’s stock worth $100,027,000 after buying an additional 566,984 shares during the last quarter. 69.59% of the stock is currently owned by institutional investors.
A number of research firms have recently commented on INVA. Stifel Nicolaus restated a “hold” rating and set a $15.00 price objective on shares of Innoviva in a report on Friday, July 28th. Zacks Investment Research upgraded Innoviva from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a report on Monday, July 31st. Cowen and Company set a $16.00 price objective on Innoviva and gave the stock a “buy” rating in a report on Monday, October 23rd. ValuEngine upgraded Innoviva from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Robert W. Baird restated a “neutral” rating and set a $13.00 price objective (up from $11.00) on shares of Innoviva in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Innoviva has a consensus rating of “Hold” and a consensus target price of $13.60.
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Shares of Innoviva, Inc. (NASDAQ INVA) opened at $13.06 on Friday. Innoviva, Inc. has a twelve month low of $10.07 and a twelve month high of $14.87. The company has a market capitalization of $1,410.00, a price-to-earnings ratio of 14.69 and a beta of 2.52. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of -2.59.
Innoviva (NASDAQ:INVA) last announced its quarterly earnings results on Wednesday, October 25th. The biotechnology company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.13). Innoviva had a net margin of 52.91% and a negative return on equity of 33.55%. The company had revenue of $48.64 million during the quarter, compared to analyst estimates of $57.18 million. During the same quarter in the prior year, the company posted $0.13 earnings per share. The firm’s revenue for the quarter was up 46.0% on a year-over-year basis. research analysts predict that Innoviva, Inc. will post 1.08 earnings per share for the current year.
Innoviva Company Profile
Innoviva, Inc, formerly Theravance, Inc, is engaged in the development, commercialization and financial management of bio-pharmaceuticals. It focuses on the respiratory assets partnered with Glaxo Group Limited (GSK), including RELVAR/BREO ELLIPTA (fluticasone furoate (FF)/vilanterol (VI)) and ANORO ELLIPTA (umeclidinium bromide/vilanterol (UMEC/VI)).
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