Innoviva, Inc. $INVA Holdings Reduced by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. has reduced its holdings in Innoviva, Inc. by 18.9%, owning approximately 0.48% of the company after selling 70,489 shares in the first quarter.
• Innoviva has recently received a series of positive ratings from research analysts, with Cantor Fitzgerald and Oppenheimer setting price targets at $26.00 and $45.00, respectively, contributing to a current consensus rating of "Buy."
• In its latest earnings report, Innoviva beat consensus estimates with an EPS of $0.77 on revenue of $100.28 million, exceeding analyst expectations of $87.10 million.

Russell Investments Group Ltd. decreased its position in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 18.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 302,777 shares of the biotechnology company's stock after selling 70,489 shares during the period. Russell Investments Group Ltd. owned approximately 0.48% of Innoviva worth $5,489,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of INVA. Tower Research Capital LLC TRC grew its position in Innoviva by 75.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,962 shares of the biotechnology company's stock worth $86,000 after purchasing an additional 2,128 shares during the last quarter. Farther Finance Advisors LLC grew its position in Innoviva by 10.3% in the 1st quarter. Farther Finance Advisors LLC now owns 8,516 shares of the biotechnology company's stock worth $153,000 after purchasing an additional 795 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Innoviva in the 4th quarter worth about $184,000. Bailard Inc. bought a new position in shares of Innoviva in the first quarter valued at approximately $189,000. Finally, Bridgefront Capital LLC bought a new position in shares of Innoviva in the fourth quarter valued at approximately $229,000. Institutional investors own 99.12% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on INVA shares. Cantor Fitzgerald started coverage on shares of Innoviva in a report on Friday, July 11th. They issued an "overweight" rating and a $26.00 price objective for the company. Oppenheimer started coverage on shares of Innoviva in a report on Monday, August 11th. They issued an "outperform" rating and a $45.00 price objective for the company. HC Wainwright increased their price objective on shares of Innoviva from $40.00 to $45.00 and gave the company a "buy" rating in a report on Monday, August 11th. Finally, Wall Street Zen upgraded shares of Innoviva from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 16th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $42.75.

Innoviva Stock Up 0.1%

INVA stock opened at $19.97 on Friday. Innoviva, Inc. has a 12 month low of $16.67 and a 12 month high of $22.00. The firm has a market cap of $1.26 billion, a PE ratio of 64.42 and a beta of 0.38. The firm has a 50 day simple moving average of $19.73 and a 200 day simple moving average of $18.85. 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 released its earnings results on Wednesday, August 6th. The biotechnology company reported $0.77 EPS 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 business had revenue of $100.28 million during the quarter, compared to analyst estimates of $87.10 million. Equities research analysts forecast that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal 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.

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