Hussman Strategic Advisors Inc. Acquires 42,000 Shares of Innoviva, Inc. $INVA

Hussman Strategic Advisors Inc. lifted its holdings in shares of Innoviva, Inc. (NASDAQ:INVA) by 25.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 210,000 shares of the biotechnology company’s stock after acquiring an additional 42,000 shares during the quarter. Innoviva accounts for about 1.0% of Hussman Strategic Advisors Inc.’s holdings, making the stock its 17th largest position. Hussman Strategic Advisors Inc.’s holdings in Innoviva were worth $4,219,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Parallel Advisors LLC boosted its position in Innoviva by 157.5% in the second quarter. Parallel Advisors LLC now owns 1,849 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 1,131 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Innoviva during the 1st quarter worth $56,000. Hantz Financial Services Inc. raised its stake in shares of Innoviva by 4,715.6% during the 2nd quarter. Hantz Financial Services Inc. now owns 4,623 shares of the biotechnology company’s stock worth $93,000 after purchasing an additional 4,527 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Innoviva by 58.9% in the 2nd quarter. GAMMA Investing LLC now owns 7,146 shares of the biotechnology company’s stock worth $144,000 after buying an additional 2,648 shares during the last quarter. Finally, Bailard Inc. bought a new position in Innoviva during the first quarter valued at about $189,000. 99.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Innoviva in a report on Wednesday, October 8th. Cantor Fitzgerald began coverage on shares of Innoviva in a research report on Friday, July 11th. They set an “overweight” rating and a $26.00 target price for the company. Wall Street Zen upgraded shares of Innoviva from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 25th. The Goldman Sachs Group initiated coverage on Innoviva in a research note on Tuesday, September 30th. They issued a “sell” rating and a $17.00 price objective on the stock. Finally, Oppenheimer assumed coverage on Innoviva in a report on Monday, August 11th. They set an “outperform” rating and a $45.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Innoviva currently has an average rating of “Moderate Buy” and an average target price of $37.60.

Innoviva Price Performance

INVA opened at $18.11 on Tuesday. The firm has a 50-day moving average price of $18.68 and a 200-day moving average price of $19.22. Innoviva, Inc. has a twelve month low of $16.52 and a twelve month high of $22.00. The company has a quick ratio of 2.44, a current ratio of 2.64 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 58.42 and a beta of 0.40.

Innoviva (NASDAQ:INVA) last announced its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.20. The company had revenue of $100.28 million for the quarter, compared to analysts’ expectations of $87.10 million. Innoviva had a net margin of 10.44% and a return on equity of 18.67%. Equities analysts expect that Innoviva, Inc. will post 0.33 EPS for the current year.

Innoviva 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.