Innoviva, Inc. $INVA Shares Sold by Denali Advisors LLC

Denali Advisors LLC lessened its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 11.7% in the second quarter, Holdings Channel.com reports. The fund owned 332,661 shares of the biotechnology company’s stock after selling 43,945 shares during the quarter. Denali Advisors LLC’s holdings in Innoviva were worth $6,683,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Systematic Financial Management LP lifted its position in shares of Innoviva by 2.1% during the 1st quarter. Systematic Financial Management LP now owns 2,071,253 shares of the biotechnology company’s stock valued at $37,552,000 after acquiring an additional 42,184 shares during the last quarter. Millennium Management LLC raised its stake in Innoviva by 318.4% during the 1st quarter. Millennium Management LLC now owns 1,676,057 shares of the biotechnology company’s stock valued at $30,387,000 after purchasing an additional 1,275,444 shares during the period. American Century Companies Inc. raised its stake in Innoviva by 17.6% during the 1st quarter. American Century Companies Inc. now owns 1,675,697 shares of the biotechnology company’s stock valued at $30,380,000 after purchasing an additional 251,382 shares during the period. Boston Partners increased its stake in shares of Innoviva by 26.9% in the first quarter. Boston Partners now owns 622,550 shares of the biotechnology company’s stock worth $11,287,000 after acquiring an additional 132,146 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Innoviva by 132.4% in the first quarter. Victory Capital Management Inc. now owns 412,281 shares of the biotechnology company’s stock worth $7,475,000 after acquiring an additional 234,898 shares during the last quarter. Institutional investors and hedge funds own 99.12% of the company’s stock.

Innoviva Trading Up 1.1%

Innoviva stock opened at $17.40 on Wednesday. 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 company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 56.13 and a beta of 0.40. Innoviva, Inc. has a one year low of $16.52 and a one year high of $22.00. The company’s fifty day moving average price is $19.12 and its two-hundred day moving average price is $19.18.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on INVA shares. The Goldman Sachs Group started coverage on shares of Innoviva in a research note on Tuesday, September 30th. They issued a “sell” rating and a $17.00 price target on the stock. Zacks Research raised shares of Innoviva from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Innoviva in a research note on Wednesday, October 8th. Cantor Fitzgerald started coverage on shares of Innoviva in a research report on Friday, July 11th. They set an “overweight” rating and a $26.00 target price on the stock. Finally, Wall Street Zen downgraded shares of Innoviva from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $37.60.

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.