Icon Advisers Inc. Co. increased its position in shares of Innoviva Inc (NASDAQ:INVA) by 41.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,529 shares of the biotechnology company’s stock after acquiring an additional 9,200 shares during the quarter. Icon Advisers Inc. Co.’s holdings in Innoviva were worth $447,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Innoviva by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 7,459,616 shares of the biotechnology company’s stock valued at $95,483,000 after purchasing an additional 226,969 shares during the last quarter. Sarissa Capital Management LP raised its stake in shares of Innoviva by 3.2% in the 3rd quarter. Sarissa Capital Management LP now owns 3,600,705 shares of the biotechnology company’s stock valued at $50,841,000 after acquiring an additional 110,000 shares during the period. State Street Corp raised its stake in shares of Innoviva by 14.7% in the 2nd quarter. State Street Corp now owns 2,717,255 shares of the biotechnology company’s stock valued at $34,782,000 after acquiring an additional 348,584 shares during the period. Northern Trust Corp raised its stake in shares of Innoviva by 11.3% in the 2nd quarter. Northern Trust Corp now owns 1,243,046 shares of the biotechnology company’s stock valued at $15,911,000 after acquiring an additional 126,246 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Innoviva by 22.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 981,854 shares of the biotechnology company’s stock valued at $13,864,000 after acquiring an additional 179,860 shares during the period. Institutional investors own 74.22% of the company’s stock.
In related news, insider Michael W. Aguiar sold 12,022 shares of Innoviva stock in a transaction on Monday, December 4th. The shares were sold at an average price of $13.13, for a total transaction of $157,848.86. Following the sale, the insider now owns 980,907 shares of the company’s stock, valued at approximately $12,879,308.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP George B. Abercrombie sold 5,215 shares of Innoviva stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $13.26, for a total transaction of $69,150.90. Following the sale, the vice president now directly owns 263,866 shares in the company, valued at approximately $3,498,863.16. The disclosure for this sale can be found here. Insiders have sold a total of 32,522 shares of company stock worth $429,985 in the last ninety days. 1.60% of the stock is currently owned by insiders.
A number of equities analysts have recently commented on INVA shares. Zacks Investment Research raised shares of Innoviva from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Wednesday, October 25th. Robert W. Baird reissued a “hold” rating and issued a $13.00 target price on shares of Innoviva in a research note on Tuesday, October 24th. Deutsche Bank started coverage on shares of Innoviva in a research note on Monday, November 20th. They issued a “hold” rating and a $13.00 target price on the stock. Cowen set a $16.00 target price on shares of Innoviva and gave the company a “buy” rating in a research note on Monday, October 23rd. Finally, BidaskClub raised shares of Innoviva from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Innoviva presently has a consensus rating of “Hold” and an average target price of $13.83.
Innoviva Inc (NASDAQ INVA) opened at $16.99 on Wednesday. Innoviva Inc has a one year low of $11.02 and a one year high of $17.21. The company has a quick ratio of 6.71, a current ratio of 20.49 and a debt-to-equity ratio of -2.47. The company has a market cap of $1,668.83, a price-to-earnings ratio of 13.32 and a beta of 2.52.
Innoviva (NASDAQ:INVA) last released its quarterly earnings results on Thursday, February 8th. The biotechnology company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.01. Innoviva had a net margin of 61.76% and a negative return on equity of 48.93%. The firm had revenue of $69.52 million for the quarter, compared to the consensus estimate of $67.41 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The firm’s quarterly revenue was up 59.4% on a year-over-year basis. sell-side analysts forecast that Innoviva Inc will post 1.98 earnings per share for the current year.
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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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