Innoviva, Inc. (NASDAQ:INVA) Shares Purchased by CWA Asset Management Group LLC

CWA Asset Management Group LLC boosted its stake in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 31.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,542 shares of the biotechnology company's stock after purchasing an additional 12,187 shares during the quarter. CWA Asset Management Group LLC owned approximately 0.08% of Innoviva worth $916,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of INVA. Rhumbline Advisers increased its holdings in Innoviva by 2.1% during the 4th quarter. Rhumbline Advisers now owns 187,318 shares of the biotechnology company's stock worth $3,250,000 after purchasing an additional 3,931 shares during the period. Principal Financial Group Inc. increased its holdings in Innoviva by 3.8% during the 4th quarter. Principal Financial Group Inc. now owns 297,776 shares of the biotechnology company's stock worth $5,166,000 after purchasing an additional 10,999 shares during the period. Hussman Strategic Advisors Inc. increased its holdings in Innoviva by 33.3% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 168,000 shares of the biotechnology company's stock worth $2,915,000 after purchasing an additional 42,000 shares during the period. Illinois Municipal Retirement Fund increased its holdings in Innoviva by 2.8% during the 4th quarter. Illinois Municipal Retirement Fund now owns 29,066 shares of the biotechnology company's stock worth $504,000 after purchasing an additional 784 shares during the period. Finally, QRG Capital Management Inc. increased its holdings in Innoviva by 4.4% during the 4th quarter. QRG Capital Management Inc. now owns 89,709 shares of the biotechnology company's stock worth $1,556,000 after purchasing an additional 3,769 shares during the period. Hedge funds and other institutional investors own 99.12% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on INVA. Scotiabank began coverage on Innoviva in a research report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price objective for the company. Wall Street Zen raised Innoviva from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th.

Innoviva Stock Down 0.9%

Shares of NASDAQ:INVA traded down $0.18 on Monday, hitting $20.82. 885,713 shares of the company's stock were exchanged, compared to its average volume of 676,250. The firm's 50-day moving average is $19.46 and its 200 day moving average is $18.45. The company has a market capitalization of $1.31 billion, a PE ratio of -20.61 and a beta of 0.37. Innoviva, Inc. has a 1-year low of $15.95 and a 1-year high of $22.00. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.30 and a current ratio of 2.48.

Innoviva (NASDAQ:INVA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter. The business had revenue of $88.63 million during the quarter. Innoviva had a positive return on equity of 15.77% and a negative net margin of 16.15%. Sell-side analysts predict that Innoviva, Inc. will post 0.33 EPS for the current year.

Innoviva Company 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.