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.

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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 Profile

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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Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

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