Fox Run Management L.L.C. Makes New Investment in Innoviva, Inc. $INVA

Fox Run Management L.L.C. bought a new position in Innoviva, Inc. (NASDAQ:INVA) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 61,653 shares of the biotechnology company’s stock, valued at approximately $1,232,000.

A number of other institutional investors have also bought and sold shares of INVA. Vanguard Group Inc. lifted its stake in Innoviva by 11.6% in the 4th quarter. Vanguard Group Inc. now owns 7,917,103 shares of the biotechnology company’s stock worth $158,263,000 after purchasing an additional 819,757 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Innoviva by 38.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,358,633 shares of the biotechnology company’s stock worth $43,045,000 after buying an additional 650,151 shares during the last quarter. Boston Partners increased its holdings in shares of Innoviva by 63.6% during the 3rd quarter. Boston Partners now owns 1,431,601 shares of the biotechnology company’s stock worth $26,125,000 after buying an additional 556,517 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Innoviva by 641.2% during the 3rd quarter. Royce & Associates LP now owns 505,906 shares of the biotechnology company’s stock worth $9,233,000 after buying an additional 437,654 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in shares of Innoviva by 68.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,023,534 shares of the biotechnology company’s stock worth $18,679,000 after buying an additional 414,889 shares during the last quarter. 99.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Innoviva in a report on Friday, March 27th. Wall Street Zen upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a report on Saturday. BTIG Research restated a “buy” rating and set a $42.00 price target on shares of Innoviva in a report on Tuesday, May 26th. Finally, HC Wainwright restated a “buy” rating and set a $46.00 price target on shares of Innoviva in a report on Monday, June 1st. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Innoviva presently has an average rating of “Moderate Buy” and an average target price of $36.20.

Innoviva Price Performance

Innoviva stock opened at $22.54 on Wednesday. Innoviva, Inc. has a 12-month low of $16.52 and a 12-month high of $25.15. The stock has a market cap of $1.66 billion, a P/E ratio of 3.75 and a beta of 0.35. The company has a current ratio of 21.13, a quick ratio of 20.07 and a debt-to-equity ratio of 0.19. The company has a fifty day simple moving average of $22.88 and a 200-day simple moving average of $21.77.

Innoviva (NASDAQ:INVA) last announced its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Innoviva had a net margin of 119.89% and a return on equity of 33.33%. The firm had revenue of $97.99 million during the quarter, compared to analysts’ expectations of $101.57 million. Equities analysts expect that Innoviva, Inc. will post 2.23 EPS for the current fiscal year.

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.