Nomura Holdings Inc. Makes New $2.32 Million Investment in Innoviva, Inc. $INVA

Key Points

• Nomura Holdings Inc. acquired 127,855 shares of Innoviva, Inc. valued at approximately $2.3 million, bringing its ownership to about 0.20% of the company.
• Innoviva's recent quarterly earnings exceeded analysts' expectations, reporting an EPS of $0.77, surpassing the forecast of $0.57.
• Analysts have boosted Innoviva's price targets, with some ratings indicating a potential target price of $45.00, reflecting strong confidence in the company's growth prospects.

Nomura Holdings Inc. acquired a new position in Innoviva, Inc. (NASDAQ:INVA - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 127,855 shares of the biotechnology company's stock, valued at approximately $2,318,000. Nomura Holdings Inc. owned about 0.20% of Innoviva as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Systematic Financial Management LP grew its position in shares of Innoviva by 2.1% in the 1st quarter. Systematic Financial Management LP now owns 2,071,253 shares of the biotechnology company's stock worth $37,552,000 after buying an additional 42,184 shares during the last quarter. American Century Companies Inc. grew its position in shares of Innoviva by 17.6% in the 1st quarter. American Century Companies Inc. now owns 1,675,697 shares of the biotechnology company's stock worth $30,380,000 after buying an additional 251,382 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of Innoviva by 28.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 842,647 shares of the biotechnology company's stock worth $14,620,000 after buying an additional 184,595 shares during the last quarter. Northern Trust Corp grew its stake in Innoviva by 4.0% during the 4th quarter. Northern Trust Corp now owns 679,044 shares of the biotechnology company's stock worth $11,781,000 after buying an additional 26,429 shares during the last quarter. Finally, Boston Partners grew its stake in Innoviva by 26.9% during the 1st quarter. Boston Partners now owns 622,550 shares of the biotechnology company's stock worth $11,287,000 after buying an additional 132,146 shares during the last quarter. Hedge funds and other institutional investors own 99.12% of the company's stock.

Innoviva Stock Performance

Innoviva stock traded down $0.44 during trading hours on Friday, hitting $20.48. 950,155 shares of the stock traded hands, compared to its average volume of 743,277. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.64 and a quick ratio of 2.44. The firm's 50 day moving average price is $19.58 and its 200-day moving average price is $19.02. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 66.07 and a beta of 0.47. Innoviva, Inc. has a 1 year low of $16.67 and a 1 year high of $22.00.

Innoviva (NASDAQ:INVA - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $87.10 million. As a group, equities analysts expect that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on INVA. Oppenheimer began coverage on Innoviva in a research note on Monday, August 11th. They set an "outperform" rating and a $45.00 target price on the stock. Wall Street Zen upgraded Innoviva from a "buy" rating to a "strong-buy" rating in a research note on Monday, September 1st. Cantor Fitzgerald began coverage on Innoviva in a research note on Friday, July 11th. They set an "overweight" rating and a $26.00 target price on the stock. Finally, HC Wainwright boosted their target price on Innoviva from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average 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.