Deutsche Bank AG Sells 36,549 Shares of Innoviva, Inc. $INVA

Key Points

• Deutsche Bank AG reduced its position in Innoviva, Inc. by 4.2%, selling 36,549 shares in the first quarter, and now holds approximately 1.32% of the company worth about $15 million.
• A number of analysts have upgraded Innoviva's stock, with Wall Street Zen moving it from a "buy" to a "strong-buy" rating, and an increased price target from $40 to $45 by HC Wainwright.
• Innoviva recently reported earnings of $0.77 per share, surpassing estimates of $0.57, and generated $100.28 million in revenue for the quarter, exceeding expectations of $87.10 million.

Deutsche Bank AG lessened its holdings in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 827,730 shares of the biotechnology company's stock after selling 36,549 shares during the period. Deutsche Bank AG owned approximately 1.32% of Innoviva worth $15,007,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Wells Fargo & Company MN raised its stake in shares of Innoviva by 40.3% in the 4th quarter. Wells Fargo & Company MN now owns 37,022 shares of the biotechnology company's stock valued at $642,000 after purchasing an additional 10,637 shares during the period. Sterling Capital Management LLC raised its stake in shares of Innoviva by 6.8% in the 4th quarter. Sterling Capital Management LLC now owns 22,924 shares of the biotechnology company's stock valued at $398,000 after purchasing an additional 1,452 shares during the period. Barclays PLC raised its stake in shares of Innoviva by 9.8% in the 4th quarter. Barclays PLC now owns 110,479 shares of the biotechnology company's stock valued at $1,917,000 after purchasing an additional 9,885 shares during the period. Marshall Wace LLP boosted its position in Innoviva by 130.9% during the 4th quarter. Marshall Wace LLP now owns 314,968 shares of the biotechnology company's stock worth $5,465,000 after acquiring an additional 178,583 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in Innoviva by 18.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 69,794 shares of the biotechnology company's stock worth $1,211,000 after acquiring an additional 10,993 shares during the last quarter. Institutional investors own 99.12% of the company's stock.

Innoviva Stock Down 0.8%

Shares of NASDAQ INVA traded down $0.17 during trading hours on Monday, hitting $20.75. The company had a trading volume of 707,019 shares, compared to its average volume of 830,291. The stock has a market capitalization of $1.31 billion, a P/E ratio of 66.93 and a beta of 0.38. 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 firm's 50 day moving average is $19.82 and its 200-day moving average is $18.80.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. HC Wainwright upped their price target on Innoviva from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Wall Street Zen raised Innoviva from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Cantor Fitzgerald assumed coverage on Innoviva in a research report on Friday, July 11th. They set an "overweight" rating and a $26.00 price target for the company. Finally, Oppenheimer assumed coverage on Innoviva in a research report on Monday, August 11th. They set an "outperform" rating and a $45.00 price target for the company. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $42.75.

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.