Charles Schwab Investment Management Inc. Sells 17,857 Shares of Innoviva, Inc. $INVA

Charles Schwab Investment Management Inc. decreased its holdings in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 2.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 609,805 shares of the biotechnology company's stock after selling 17,857 shares during the period. Charles Schwab Investment Management Inc. owned 0.97% of Innoviva worth $11,056,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. US Bancorp DE boosted its stake in Innoviva by 356.0% during the first quarter. US Bancorp DE now owns 12,753 shares of the biotechnology company's stock valued at $231,000 after buying an additional 9,956 shares during the last quarter. XTX Topco Ltd bought a new position in Innoviva during the first quarter valued at approximately $1,181,000. GSA Capital Partners LLP bought a new position in Innoviva during the first quarter valued at approximately $631,000. Assetmark Inc. boosted its stake in Innoviva by 4.5% during the first quarter. Assetmark Inc. now owns 174,388 shares of the biotechnology company's stock valued at $3,162,000 after buying an additional 7,509 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its stake in Innoviva by 10.9% during the first quarter. Avantax Advisory Services Inc. now owns 20,510 shares of the biotechnology company's stock valued at $372,000 after buying an additional 2,009 shares during the last quarter. Institutional investors own 99.12% of the company's stock.

Innoviva Price Performance

NASDAQ:INVA opened at $20.16 on Monday. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 65.03 and a beta of 0.38. Innoviva, Inc. has a 1 year low of $16.67 and a 1 year high of $22.00. The business has a 50 day simple moving average of $19.70 and a 200-day simple moving average of $18.87. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.64 and a quick ratio of 2.44.

Innoviva (NASDAQ:INVA - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $100.28 million during the quarter, compared to analyst estimates of $87.10 million. Innoviva had a return on equity of 18.67% and a net margin of 10.44%. Equities analysts forecast that Innoviva, Inc. will post 0.33 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on INVA. Oppenheimer began coverage on Innoviva in a research note on Monday, August 11th. They set an "outperform" rating and a $45.00 price target for the company. HC Wainwright increased their price target on Innoviva from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Wall Street Zen lowered Innoviva from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Finally, Cantor Fitzgerald assumed coverage on Innoviva in a research note on Friday, July 11th. They set an "overweight" rating and a $26.00 price target for the company. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, Innoviva presently has a consensus rating of "Buy" and a consensus target price of $42.75.

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.

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