Dimensional Fund Advisors LP Acquires 76,026 Shares of Innoviva, Inc. $INVA

Dimensional Fund Advisors LP grew its holdings in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 1.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,436,427 shares of the biotechnology company's stock after acquiring an additional 76,026 shares during the period. Dimensional Fund Advisors LP owned about 5.99% of Innoviva worth $103,366,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Parallel Advisors LLC increased its holdings in Innoviva by 82.8% in the first quarter. Parallel Advisors LLC now owns 1,179 shares of the biotechnology company's stock valued at $27,000 after purchasing an additional 534 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Innoviva by 297.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,398 shares of the biotechnology company's stock valued at $48,000 after buying an additional 1,795 shares during the last quarter. Danske Bank A S bought a new stake in shares of Innoviva in the 3rd quarter valued at about $55,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Innoviva by 49.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,633 shares of the biotechnology company's stock valued at $73,000 after buying an additional 1,197 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Innoviva in the second quarter valued at about $92,000. Institutional investors own 99.12% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. HC Wainwright restated a "buy" rating and set a $46.00 price objective on shares of Innoviva in a research report on Monday, June 1st. Weiss Ratings reiterated a "buy (b)" rating on shares of Innoviva in a report on Wednesday, June 24th. Wall Street Zen raised shares of Innoviva from a "hold" rating to a "buy" rating in a research report on Saturday, June 6th. Finally, BTIG Research restated a "buy" rating and set a $42.00 price target on shares of Innoviva in a report on Monday, June 22nd. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Innoviva presently has a consensus rating of "Moderate Buy" and an average price target of $36.20.

Innoviva Stock Performance

INVA stock opened at $21.81 on Wednesday. The firm has a market cap of $1.61 billion, a PE ratio of 3.63 and a beta of 0.34. The company has a current ratio of 21.13, a quick ratio of 20.07 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average price of $22.25 and a 200-day moving average price of $22.22. Innoviva, Inc. has a 1-year low of $16.52 and a 1-year high of $25.15.

Innoviva (NASDAQ:INVA - Get Free Report) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $97.99 million during the quarter, compared to analysts' expectations of $101.57 million. Innoviva had a return on equity of 33.33% and a net margin of 119.89%. As a group, equities research analysts expect that Innoviva, Inc. will post 2.2 earnings per share for the current year.

Innoviva Profile

Innoviva, Inc, incorporated in Delaware and headquartered in San Francisco, California, is a royalty-focused life sciences company. It acquires, manages and monetizes royalty and license interests in biopharmaceutical products, with a primary emphasis on inhaled respiratory therapies. Innoviva's portfolio is anchored by royalties on therapies originally developed by its former affiliate, now marketed by GlaxoSmithKline, including several long-acting inhaled products approved for chronic obstructive pulmonary disease (COPD) and asthma.

The company was established through a spin‐out transaction in 2014, separating the royalty assets from a research‐based biopharmaceutical enterprise to create a specialized investment vehicle.

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