Caxton Associates LLP Buys New Shares in Innoviva, Inc. $INVA

Key Points

• Caxton Associates LLP has acquired a new position in Innoviva, purchasing 51,846 shares valued at approximately $940,000, representing 0.08% of the company as of its last SEC filing.
• Multiple institutional investors, including SG Americas Securities LLC and MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd., have also increased their stakes in Innoviva, highlighting growing interest among financial firms.
• Analysts have a favorable outlook on Innoviva, with an average rating of "Buy" and a consensus price target of $42.75, following several upgrades from various research firms.

Caxton Associates LLP acquired a new stake in Innoviva, Inc. (NASDAQ:INVA - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 51,846 shares of the biotechnology company's stock, valued at approximately $940,000. Caxton Associates LLP owned about 0.08% of Innoviva as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Martingale Asset Management L P increased its holdings in shares of Innoviva by 0.7% in the first quarter. Martingale Asset Management L P now owns 78,412 shares of the biotechnology company's stock worth $1,422,000 after buying an additional 570 shares during the period. Farther Finance Advisors LLC boosted its position in Innoviva by 10.3% during 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Innoviva by 3.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,490 shares of the biotechnology company's stock valued at $546,000 after purchasing an additional 1,162 shares in the last quarter. Uniplan Investment Counsel Inc. grew its position in shares of Innoviva by 0.6% in the 1st quarter. Uniplan Investment Counsel Inc. now owns 243,507 shares of the biotechnology company's stock worth $4,415,000 after buying an additional 1,493 shares during the period. Finally, Kendall Capital Management lifted its holdings in shares of Innoviva by 4.5% during the first quarter. Kendall Capital Management now owns 35,115 shares of the biotechnology company's stock valued at $637,000 after purchasing an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 99.12% of the company's stock.

Analysts Set New Price Targets

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

Innoviva Trading Down 0.3%

Innoviva stock traded down $0.06 during midday trading on Friday, reaching $19.37. The stock had a trading volume of 623,909 shares, compared to its average volume of 654,719. Innoviva, Inc. has a 52-week low of $16.67 and a 52-week high of $22.00. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 62.49 and a beta of 0.47. The company has a fifty day moving average of $19.61 and a 200 day moving average of $19.08. 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 (NASDAQ:INVA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.20. Innoviva had a net margin of 10.44% and a return on equity of 18.67%. The firm had revenue of $100.28 million during the quarter, compared to the consensus estimate of $87.10 million. On average, analysts anticipate that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

About Innoviva

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.