Voya Investment Management LLC Grows Holdings in Innoviva, Inc. (INVA)
Voya Investment Management LLC grew its holdings in Innoviva, Inc. (NASDAQ:INVA) by 10.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,937 shares of the biotechnology company’s stock after purchasing an additional 3,470 shares during the quarter. Voya Investment Management LLC’s holdings in Innoviva were worth $486,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in Innoviva by 68,215.3% in the 1st 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 in the last quarter. Federated Investors Inc. PA lifted its stake in Innoviva by 9.2% in the 2nd quarter. Federated Investors Inc. PA now owns 121,499 shares of the biotechnology company’s stock worth $1,555,000 after purchasing an additional 10,269 shares in the last quarter. Morgan Stanley lifted its stake in Innoviva by 92.2% in the 1st quarter. Morgan Stanley now owns 564,427 shares of the biotechnology company’s stock worth $7,807,000 after purchasing an additional 270,824 shares in the last quarter. State of Wisconsin Investment Board purchased a new position in Innoviva in the 2nd quarter worth approximately $730,000. Finally, KCG Holdings Inc. lifted its stake in Innoviva by 63.9% in the 1st quarter. KCG Holdings Inc. now owns 30,265 shares of the biotechnology company’s stock worth $419,000 after purchasing an additional 11,802 shares in the last quarter. 69.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of Innoviva, Inc. (INVA) opened at $12.45 on Tuesday. The stock has a market cap of $1,345.13, a P/E ratio of 14.14 and a beta of 2.51. The company has a debt-to-equity ratio of -2.71, a quick ratio of 7.31 and a current ratio of 31.55.
Innoviva (NASDAQ:INVA) last released its quarterly earnings results on Wednesday, October 25th. The biotechnology company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.13). The firm had revenue of $48.64 million for the quarter, compared to analysts’ expectations of $57.18 million. Innoviva had a net margin of 52.91% and a negative return on equity of 33.55%. The firm’s quarterly revenue was up 46.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS. analysts predict that Innoviva, Inc. will post 1.08 earnings per share for the current year.
A number of research firms have weighed in on INVA. Robert W. Baird reissued a “neutral” rating and issued a $13.00 target price (up from $11.00) on shares of Innoviva in a research note on Thursday, July 27th. Zacks Investment Research lowered 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 target price on shares of Innoviva and gave the stock a “buy” rating in a research note on Friday, July 28th. Stifel Nicolaus reissued a “hold” rating and issued a $15.00 target price on shares of Innoviva in a research note on Friday, July 28th. Finally, ValuEngine lowered shares of Innoviva from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Innoviva currently has an average rating of “Hold” and a consensus price target 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)).
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