Innoviva, Inc. (INVA) Holdings Boosted by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC boosted its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 38.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 310,316 shares of the biotechnology company’s stock after purchasing an additional 86,864 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.29% of Innoviva worth $3,972,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of INVA. BlackRock Inc. raised its stake in Innoviva by 68,215.3% during the first 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. Marshall Wace North America L.P. raised its stake in Innoviva by 3,296.8% during the second quarter. Marshall Wace North America L.P. now owns 822,356 shares of the biotechnology company’s stock worth $10,691,000 after purchasing an additional 798,146 shares during the period. Point72 Asset Management L.P. purchased a new position in Innoviva during the first quarter worth approximately $9,852,000. Vanguard Group Inc. raised its stake in Innoviva by 8.5% during the first quarter. Vanguard Group Inc. now owns 7,232,647 shares of the biotechnology company’s stock worth $100,027,000 after purchasing an additional 566,984 shares during the period. Finally, Acadian Asset Management LLC raised its stake in Innoviva by 265.9% during the second quarter. Acadian Asset Management LLC now owns 545,556 shares of the biotechnology company’s stock worth $6,983,000 after purchasing an additional 396,476 shares during the period. 69.06% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION WARNING: This piece of content was reported by Watch List News and is the property of of Watch List News. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://www.watchlistnews.com/innoviva-inc-inva-holdings-boosted-by-tiaa-cref-investment-management-llc/1647043.html.
Innoviva, Inc. (NASDAQ:INVA) opened at 13.83 on Friday. The stock has a market cap of $1.51 billion, a P/E ratio of 17.40 and a beta of 2.60. The firm’s 50-day moving average is $13.97 and its 200-day moving average is $13.01. Innoviva, Inc. has a 1-year low of $8.67 and a 1-year high of $14.87.
Innoviva (NASDAQ:INVA) last announced its quarterly earnings data on Wednesday, July 26th. The biotechnology company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.02. Innoviva had a net margin of 52.56% and a negative return on equity of 27.37%. The firm had revenue of $58.60 million for the quarter, compared to the consensus estimate of $50.53 million. During the same period in the previous year, the firm posted $0.13 earnings per share. The firm’s revenue was up 80.3% on a year-over-year basis. On average, analysts forecast that Innoviva, Inc. will post $1.15 EPS for the current year.
A number of equities analysts have weighed in on the stock. Robert W. Baird reaffirmed a “neutral” rating and set a $13.00 price target (up previously from $11.00) on shares of Innoviva in a research note on Thursday, July 27th. Zacks Investment Research downgraded shares of Innoviva from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Cowen and Company set a $16.00 price target on shares of Innoviva and gave the stock a “buy” rating in a research note on Friday, July 28th. Stifel Nicolaus reaffirmed a “hold” rating and set a $15.00 price target on shares of Innoviva in a research note on Friday, July 28th. Finally, ValuEngine downgraded shares of Innoviva from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Innoviva currently has an average rating of “Hold” and an average target price of $13.60.
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)).
Want to see what other hedge funds are holding INVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Innoviva, Inc. (NASDAQ:INVA).
Receive News & Ratings for Innoviva Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innoviva Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.