Innoviva, Inc. $INVA Shares Purchased by Boston Partners

Key Points

• Boston Partners has increased its stake in Innoviva, Inc. by 26.9% during the first quarter, now owning 622,550 shares valued at approximately $11.3 million.
• Analysts are optimistic about Innoviva's prospects, with HC Wainwright raising their price target to $45.00 and a majority of analysts giving the stock a buy rating.
• Innoviva reported an EPS of $0.77 for the latest quarter, surpassing estimates by $0.20, and generated revenues of $100.28 million, exceeding analyst expectations as well.

Boston Partners boosted its position in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 26.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 622,550 shares of the biotechnology company's stock after purchasing an additional 132,146 shares during the period. Boston Partners owned about 0.99% of Innoviva worth $11,287,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Innoviva during the 1st quarter valued at approximately $737,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Innoviva by 3.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,490 shares of the biotechnology company's stock worth $546,000 after purchasing an additional 1,162 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Innoviva by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 305,476 shares of the biotechnology company's stock valued at $5,538,000 after acquiring an additional 7,700 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Innoviva by 10.3% in the 1st quarter. Farther Finance Advisors LLC now owns 8,516 shares of the biotechnology company's stock valued at $153,000 after acquiring an additional 795 shares during the last quarter. Finally, US Bancorp DE raised its holdings in Innoviva by 356.0% in the 1st quarter. US Bancorp DE now owns 12,753 shares of the biotechnology company's stock valued at $231,000 after acquiring an additional 9,956 shares during the last quarter. Institutional investors and hedge funds own 99.12% of the company's stock.

Wall Street Analyst Weigh In

INVA has been the subject of several analyst reports. Wall Street Zen upgraded Innoviva from a "buy" rating to a "strong-buy" rating in a report on Saturday. HC Wainwright boosted 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. Oppenheimer began coverage on Innoviva in a report on Monday, August 11th. They set an "outperform" rating and a $45.00 price objective for the company. Finally, Cantor Fitzgerald began coverage on Innoviva in a report on Friday, July 11th. They set an "overweight" rating and a $26.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $42.75.

Innoviva Trading Down 1.5%

Shares of INVA stock traded down $0.3140 on Wednesday, reaching $20.2060. 154,600 shares of the stock were exchanged, compared to its average volume of 827,147. The firm has a 50 day moving average of $19.79 and a two-hundred day moving average of $18.83. The company has a quick ratio of 2.44, a current ratio of 2.64 and a debt-to-equity ratio of 0.36. Innoviva, Inc. has a 1-year low of $16.67 and a 1-year high of $22.00. The stock has a market cap of $1.27 billion, a P/E ratio of 65.24 and a beta of 0.38.

Innoviva (NASDAQ:INVA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.20. Innoviva had a return on equity of 18.67% and a net margin of 10.44%.The firm had revenue of $100.28 million during the quarter, compared to the consensus estimate of $87.10 million. On average, research analysts anticipate that Innoviva, Inc. will post 0.33 EPS for the current year.

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.