Rhumbline Advisers raised its holdings in shares of Innoviva Inc (NASDAQ:INVA) by 1.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 205,873 shares of the biotechnology company’s stock after purchasing an additional 3,547 shares during the quarter. Rhumbline Advisers’ holdings in Innoviva were worth $2,170,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. State of New Jersey Common Pension Fund D acquired a new position in shares of Innoviva during the 3rd quarter valued at $1,715,000. 6 Meridian increased its position in shares of Innoviva by 78.3% during the 3rd quarter. 6 Meridian now owns 20,380 shares of the biotechnology company’s stock valued at $215,000 after purchasing an additional 8,953 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Innoviva during the 3rd quarter valued at $3,980,000. Pacer Advisors Inc. increased its position in shares of Innoviva by 31.1% during the 3rd quarter. Pacer Advisors Inc. now owns 75,230 shares of the biotechnology company’s stock valued at $793,000 after purchasing an additional 17,867 shares during the period. Finally, State of Alaska Department of Revenue increased its position in shares of Innoviva by 122.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 51,351 shares of the biotechnology company’s stock valued at $541,000 after purchasing an additional 28,254 shares during the period. Hedge funds and other institutional investors own 75.95% of the company’s stock.

Shares of NASDAQ INVA opened at $12.16 on Thursday. The company has a quick ratio of 110.18, a current ratio of 110.18 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 3.65 and a beta of 1.45. The stock’s fifty day simple moving average is $11.05 and its 200 day simple moving average is $12.56. Innoviva Inc has a 52-week low of $10.03 and a 52-week high of $20.54.

Innoviva (NASDAQ:INVA) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.36. The business had revenue of $65.38 million for the quarter. Innoviva had a return on equity of 168.69% and a net margin of 141.80%. As a group, analysts anticipate that Innoviva Inc will post 2.03 earnings per share for the current year.

Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Innoviva from a “hold” rating to a “strong-buy” rating and set a $14.00 price target on the stock in a research report on Wednesday, November 6th. TheStreet cut Innoviva from a “b-” rating to a “c+” rating in a research report on Thursday, August 8th. BidaskClub upgraded Innoviva from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 2nd. Finally, ValuEngine upgraded Innoviva from a “sell” rating to a “hold” rating in a report on Friday, November 1st.

Innoviva Company Profile

Innoviva, Inc engages in the development and commercialization of pharmaceuticals. The company has long-acting beta2 agonist (LABA) collaboration agreement with Glaxo Group Limited to develop and commercialize once-daily products for the treatment of chronic obstructive pulmonary disease and asthma. Its products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a long-acting beta2 agonist (LABA), vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate (FF); ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA), umeclidinium bromide (UMEC), with a LABA, and VI; and TRELEGY ELLIPTA, a once-daily combination medicine consisting of an ICS, LAMA and LABA.

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Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

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