Innoviva Inc (INVA) Position Lessened by Fmr LLC
Fmr LLC lowered its position in shares of Innoviva Inc (NASDAQ:INVA) by 69.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,687,293 shares of the biotechnology company’s stock after selling 6,073,058 shares during the quarter. Fmr LLC owned approximately 2.64% of Innoviva worth $37,085,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in shares of Innoviva in the 1st quarter valued at approximately $113,000. Prudential Financial Inc. lifted its stake in shares of Innoviva by 80.8% in the 1st quarter. Prudential Financial Inc. now owns 215,921 shares of the biotechnology company’s stock valued at $3,599,000 after purchasing an additional 96,490 shares during the last quarter. Swiss National Bank lifted its stake in shares of Innoviva by 5.9% in the 1st quarter. Swiss National Bank now owns 133,100 shares of the biotechnology company’s stock valued at $2,219,000 after purchasing an additional 7,400 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Innoviva by 1.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 422,680 shares of the biotechnology company’s stock valued at $7,047,000 after purchasing an additional 4,230 shares during the last quarter. Finally, Aperio Group LLC lifted its stake in shares of Innoviva by 31.5% in the 1st quarter. Aperio Group LLC now owns 32,673 shares of the biotechnology company’s stock valued at $545,000 after purchasing an additional 7,821 shares during the last quarter. Institutional investors and hedge funds own 72.70% of the company’s stock.
Several brokerages have recently weighed in on INVA. Stifel Nicolaus reiterated a “hold” rating and issued a $16.00 price target on shares of Innoviva in a report on Monday, June 25th. Zacks Investment Research upgraded Innoviva from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 26th. ValuEngine downgraded Innoviva from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. Finally, BidaskClub upgraded Innoviva from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Innoviva has an average rating of “Hold” and an average target price of $13.67.
Shares of NASDAQ INVA opened at $15.32 on Friday. The company has a current ratio of 26.39, a quick ratio of 26.39 and a debt-to-equity ratio of -3.13. Innoviva Inc has a fifty-two week low of $11.47 and a fifty-two week high of $17.99. The company has a market capitalization of $1.53 billion, a PE ratio of 13.09 and a beta of 2.26.
Innoviva (NASDAQ:INVA) last released its quarterly earnings data on Thursday, July 26th. The biotechnology company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.06). The firm had revenue of $67.09 million for the quarter, compared to analysts’ expectations of $68.50 million. Innoviva had a negative return on equity of 83.69% and a net margin of 70.01%. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 earnings per share. equities research analysts anticipate that Innoviva Inc will post 1.83 earnings per share for the current year.
Innoviva, Inc engages in the development and commercialization of bio-pharmaceuticals. Its portfolio of respiratory products include RELVAR/BREO ELLIPTA, (fluticasone furoate/ vilanterol, FF/VI); ANORO ELLIPTA (umeclidinium bromide/ vilanterol, UMEC/VI); and TRELEGY ELLIPTA (the combination FF/UMEC/VI).
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