Los Angeles Capital Management LLC Sells 2,563 Shares of Innoviva, Inc. $INVA

Los Angeles Capital Management LLC lessened its holdings in Innoviva, Inc. (NASDAQ:INVA) by 5.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,462 shares of the biotechnology company’s stock after selling 2,563 shares during the quarter. Los Angeles Capital Management LLC owned 0.08% of Innoviva worth $974,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in INVA. Parallel Advisors LLC grew its stake in shares of Innoviva by 157.5% during the second quarter. Parallel Advisors LLC now owns 1,849 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 1,131 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Innoviva during the 1st quarter valued at about $56,000. Hantz Financial Services Inc. grew its position in Innoviva by 4,715.6% during the 2nd quarter. Hantz Financial Services Inc. now owns 4,623 shares of the biotechnology company’s stock worth $93,000 after acquiring an additional 4,527 shares during the last quarter. GAMMA Investing LLC increased its stake in Innoviva by 58.9% in the 2nd quarter. GAMMA Investing LLC now owns 7,146 shares of the biotechnology company’s stock worth $144,000 after purchasing an additional 2,648 shares during the period. Finally, Bailard Inc. purchased a new position in Innoviva in the 1st quarter worth approximately $189,000. 99.12% of the stock is owned by institutional investors.

Innoviva Stock Down 0.4%

Shares of Innoviva stock opened at $22.20 on Friday. The company has a current ratio of 2.64, a quick ratio of 2.44 and a debt-to-equity ratio of 0.36. The company’s fifty day simple moving average is $18.72 and its two-hundred day simple moving average is $19.34. The company has a market cap of $1.40 billion, a P/E ratio of 71.62 and a beta of 0.42. Innoviva, Inc. has a 12-month low of $16.52 and a 12-month high of $22.76.

Innoviva (NASDAQ:INVA) last posted its earnings results on Wednesday, November 5th. The biotechnology company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.46 by $0.62. Innoviva had a net margin of 10.44% and a return on equity of 18.67%. The firm had revenue of $107.80 million during the quarter, compared to analysts’ expectations of $91.31 million. Research analysts anticipate that Innoviva, Inc. will post 0.33 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on INVA shares. Weiss Ratings raised Innoviva from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, November 7th. Oppenheimer assumed coverage on shares of Innoviva in a research report on Monday, August 11th. They set an “outperform” rating and a $45.00 price target for the company. Wall Street Zen upgraded shares of Innoviva from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 25th. HC Wainwright upped their price objective on shares of Innoviva from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Finally, Cantor Fitzgerald raised their target price on Innoviva from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Innoviva has an average rating of “Moderate Buy” and a consensus target price of $38.60.

Innoviva Profile

Innoviva, Inc engages in the development and commercialization of pharmaceutical products in the United States and internationally. The company’s products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a LABA, vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate; ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA) and umeclidinium bromide (UMEC) with a LABA, VI; GIAPREZA (angiotensin II), a vasoconstrictor to increase blood pressure in adults with septic or other distributive shock; XERAVA (eravacycline) for the treatment of complicated intra-abdominal infections in adults; and XACDURO, a beta lactamase inhibitor for the treatment of hospital-acquired bacterial pneumonia and ventilator-associated bacterial pneumonia.