QS Investors LLC Continues to Hold Holdings in Innoviva, Inc. (INVA)
QS Investors LLC continued to hold its position in Innoviva, Inc. (NASDAQ:INVA) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 147,558 shares of the biotechnology company’s stock at the close of the second quarter. QS Investors LLC owned about 0.13% of Innoviva worth $1,889,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in INVA. Russell Investments Group Ltd. bought a new position in shares of Innoviva in the first quarter valued at approximately $688,000. BNP Paribas Arbitrage SA boosted its position in shares of Innoviva by 11.6% in the first quarter. BNP Paribas Arbitrage SA now owns 15,984 shares of the biotechnology company’s stock valued at $221,000 after acquiring an additional 1,656 shares during the period. Comerica Bank boosted its position in shares of Innoviva by 4.5% in the first quarter. Comerica Bank now owns 85,950 shares of the biotechnology company’s stock valued at $1,082,000 after acquiring an additional 3,673 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Innoviva by 47.8% in the first quarter. UBS Asset Management Americas Inc. now owns 39,134 shares of the biotechnology company’s stock valued at $541,000 after acquiring an additional 12,650 shares during the period. Finally, Karp Capital Management Corp bought a new position in shares of Innoviva in the first quarter valued at approximately $280,000. Institutional investors own 69.06% of the company’s stock.
A number of research firms have recently commented on INVA. Morgan Stanley restated an “underweight” rating and issued a $8.00 price objective (up from $7.00) on shares of Innoviva in a research report on Friday. ValuEngine upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Stifel Nicolaus restated a “hold” rating and issued a $15.00 price objective on shares of Innoviva in a research report on Friday, July 28th. Zacks Investment Research upgraded shares of Innoviva from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a research report on Monday, July 31st. Finally, Cowen and Company set a $16.00 price objective on shares of Innoviva and gave the company a “buy” rating in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $13.60.
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Innoviva, Inc. (NASDAQ:INVA) opened at 14.32 on Monday. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 18.01 and a beta of 2.60. The stock has a 50 day moving average of $13.69 and a 200-day moving average of $12.96. Innoviva, Inc. has a 52-week low of $8.67 and a 52-week high of $14.87.
Innoviva (NASDAQ:INVA) last posted its quarterly earnings results on Wednesday, July 26th. The biotechnology company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.02. Innoviva had a negative return on equity of 27.37% and a net margin of 52.56%. The business had revenue of $58.60 million during the quarter, compared to the consensus estimate of $50.53 million. During the same period in the prior year, the company posted $0.13 EPS. The firm’s revenue for the quarter was up 80.3% compared to the same quarter last year. On average, equities research analysts anticipate that Innoviva, Inc. will post $1.16 earnings per share for the current fiscal year.
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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