LSV Asset Management Has $34.60 Million Stake in Innoviva Inc (INVA)

LSV Asset Management lifted its position in Innoviva Inc (NASDAQ:INVA) by 2.4% during the 1st quarter, Holdings Channel reports. The firm owned 2,465,871 shares of the biotechnology company’s stock after buying an additional 57,894 shares during the quarter. LSV Asset Management’s holdings in Innoviva were worth $34,596,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of INVA. Oregon Public Employees Retirement Fund bought a new stake in shares of Innoviva in the 4th quarter worth about $26,000. Quadrant Capital Group LLC bought a new stake in shares of Innoviva in the 1st quarter worth about $27,000. Financial Gravity Companies Inc. bought a new stake in shares of Innoviva in the 4th quarter worth about $40,000. Fort L.P. bought a new stake in shares of Innoviva in the 4th quarter worth about $90,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Innoviva in the 1st quarter worth about $160,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

In other Innoviva news, insider Marianne Zhen sold 5,617 shares of the stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $16.00, for a total transaction of $89,872.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director George Bickerstaff acquired 15,000 shares of the firm’s stock in a transaction on Wednesday, February 27th. The shares were bought at an average cost of $15.90 per share, for a total transaction of $238,500.00. The disclosure for this purchase can be found here. 0.18% of the stock is owned by corporate insiders.

Shares of NASDAQ:INVA opened at $14.54 on Thursday. Innoviva Inc has a 12 month low of $13.07 and a 12 month high of $20.54. The company has a debt-to-equity ratio of 1.93, a quick ratio of 66.02 and a current ratio of 66.01. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 4.12 and a beta of 1.82.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Innoviva had a return on equity of 1,674.72% and a net margin of 151.35%. The company had revenue of $55.18 million for the quarter. Analysts expect that Innoviva Inc will post 1.62 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on INVA shares. Zacks Investment Research raised shares of Innoviva from a “hold” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a report on Wednesday, April 17th. BidaskClub lowered shares of Innoviva from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Finally, ValuEngine lowered shares of Innoviva from a “sell” rating to a “strong sell” rating in a report on Tuesday, April 16th.

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Innoviva 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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