Jefferies Financial Group Inc. Increases Stock Holdings in Innoviva, Inc. (NASDAQ:INVA)

Jefferies Financial Group Inc. boosted its position in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 355.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 296,238 shares of the biotechnology company's stock after purchasing an additional 231,238 shares during the quarter. Jefferies Financial Group Inc. owned about 0.47% of Innoviva worth $5,140,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. BOKF NA raised its stake in Innoviva by 2.3% in the 4th quarter. BOKF NA now owns 28,648 shares of the biotechnology company's stock valued at $495,000 after purchasing an additional 641 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings in Innoviva by 2.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 29,066 shares of the biotechnology company's stock valued at $504,000 after buying an additional 784 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Innoviva by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,274 shares of the biotechnology company's stock valued at $230,000 after buying an additional 1,241 shares in the last quarter. Avantax Advisory Services Inc. grew its holdings in Innoviva by 8.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 18,501 shares of the biotechnology company's stock valued at $321,000 after buying an additional 1,381 shares in the last quarter. Finally, Sterling Capital Management LLC grew its holdings in 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 buying an additional 1,452 shares in the last quarter. 99.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on INVA shares. StockNews.com upgraded Innoviva from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th. Scotiabank started coverage on Innoviva in a report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 target price for the company.

Innoviva Trading Up 1.4%

NASDAQ:INVA traded up $0.25 during trading hours on Friday, hitting $18.58. The company had a trading volume of 818,822 shares, compared to its average volume of 633,018. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average of $17.97 and a 200 day moving average of $18.26. The company has a market cap of $1.16 billion, a P/E ratio of 26.93 and a beta of 0.35. Innoviva, Inc. has a 1 year low of $15.20 and a 1 year high of $21.28.

Innoviva (NASDAQ:INVA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $0.25 earnings per share for the quarter. The business had revenue of $88.63 million during the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. Sell-side analysts expect that Innoviva, Inc. will post 0.33 earnings per share for the current year.

Insider Transactions at Innoviva

In other news, major shareholder Alexander J. Denner sold 1,196,746 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $17.52, for a total transaction of $20,966,989.92. Following the completion of the transaction, the insider now directly owns 5,658,705 shares in the company, valued at approximately $99,140,511.60. This represents a 17.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.25% of the company's stock.

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.