Schroder Investment Management Group boosted its stake in shares of Innoviva Inc (NASDAQ:INVA) by 437.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 389,782 shares of the biotechnology company’s stock after acquiring an additional 317,260 shares during the quarter. Schroder Investment Management Group’s holdings in Innoviva were worth $5,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in Innoviva by 2.6% in the 3rd quarter. BlackRock Inc. now owns 11,921,598 shares of the biotechnology company’s stock worth $181,684,000 after buying an additional 304,918 shares during the period. Renaissance Technologies LLC lifted its holdings in Innoviva by 47.1% in the 2nd quarter. Renaissance Technologies LLC now owns 3,390,800 shares of the biotechnology company’s stock worth $46,793,000 after buying an additional 1,084,980 shares during the period. Bank of America Corp DE lifted its holdings in Innoviva by 14.2% in the 2nd quarter. Bank of America Corp DE now owns 2,071,719 shares of the biotechnology company’s stock worth $28,589,000 after buying an additional 257,847 shares during the period. Point72 Asset Management L.P. lifted its holdings in Innoviva by 344.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,926,732 shares of the biotechnology company’s stock worth $26,589,000 after buying an additional 1,492,863 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Innoviva by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,909,111 shares of the biotechnology company’s stock worth $26,346,000 after buying an additional 185,825 shares during the period. Institutional investors own 73.21% of the company’s stock.
Several equities research analysts have weighed in on the company. BidaskClub upgraded Innoviva from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 10th. Zacks Investment Research upgraded Innoviva from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Wednesday, November 7th. Finally, ValuEngine upgraded Innoviva from a “sell” rating to a “hold” rating in a report on Wednesday, October 17th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Innoviva currently has a consensus rating of “Buy” and an average target price of $17.00.
Shares of NASDAQ:INVA opened at $17.61 on Thursday. Innoviva Inc has a 52-week low of $12.62 and a 52-week high of $18.60. The company has a market capitalization of $1.78 billion, a PE ratio of 15.05 and a beta of 2.27.
Innoviva (NASDAQ:INVA) last announced its earnings results on Wednesday, October 31st. The biotechnology company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). Innoviva had a negative return on equity of 110.01% and a net margin of 75.67%. The firm had revenue of $61.70 million during the quarter, compared to the consensus estimate of $64.00 million. During the same period in the prior year, the company posted $0.21 EPS. The firm’s revenue was up 27.0% on a year-over-year basis. On average, research analysts expect that Innoviva Inc will post 1.91 earnings per share for the current fiscal year.
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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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