Boston Partners Has $11.29 Million Position in Innoviva, Inc. $INVA

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

A number of other hedge funds also recently made changes to their positions in INVA. Caitong International Asset Management Co. Ltd bought a new stake in Innoviva during the first quarter worth approximately $56,000. Tower Research Capital LLC TRC raised its holdings in Innoviva by 75.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,962 shares of the biotechnology company's stock worth $86,000 after purchasing an additional 2,128 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Innoviva by 10.3% during the first quarter. Farther Finance Advisors LLC now owns 8,516 shares of the biotechnology company's stock worth $153,000 after purchasing an additional 795 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Innoviva during the fourth quarter worth approximately $184,000. Finally, Bailard Inc. bought a new stake in Innoviva during the first quarter worth approximately $189,000. Institutional investors own 99.12% of the company's stock.

Innoviva Stock Performance

INVA stock traded up $0.10 during mid-day trading on Thursday, reaching $20.05. 74,138 shares of the stock traded hands, compared to its average volume of 824,678. 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 52 week low of $16.67 and a 52 week high of $22.00. The business has a 50-day moving average of $19.76 and a two-hundred day moving average of $18.84. The firm has a market capitalization of $1.26 billion, a PE ratio of 64.68 and a beta of 0.38.

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

Analyst Ratings Changes

INVA has been the topic of several research reports. Cantor Fitzgerald initiated coverage on Innoviva in a report on Friday, July 11th. They issued an "overweight" rating and a $26.00 price target on the stock. Wall Street Zen upgraded shares of Innoviva from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 16th. Oppenheimer initiated coverage on shares of Innoviva in a report on Monday, August 11th. They set an "outperform" rating and a $45.00 price target on the stock. Finally, HC Wainwright boosted their price target on shares of Innoviva from $40.00 to $45.00 and gave the company a "buy" rating in a report on Monday, August 11th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Innoviva has a consensus rating of "Buy" and an average price target of $42.75.

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.