Innoviva, Inc. $INVA Shares Newly Acquired by CenterBook Partners LP

CenterBook Partners LP acquired a new stake in Innoviva, Inc. (NASDAQ:INVA) in the third quarter, HoldingsChannel reports. The fund acquired 40,904 shares of the biotechnology company’s stock, valued at approximately $868,000.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Innoviva by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,436,427 shares of the biotechnology company’s stock valued at $103,366,000 after purchasing an additional 76,026 shares during the period. BlackRock Inc. acquired a new stake in Innoviva in the 2nd quarter valued at about $77,562,000. Bank of America Corp DE acquired a new stake in Innoviva in the 2nd quarter valued at about $37,873,000. Deutsche Bank AG bought a new position in Innoviva during the second quarter worth about $20,847,000. Finally, William Blair Investment Management LLC acquired a new position in Innoviva during the second quarter worth approximately $14,584,000. 99.12% of the stock is currently owned by institutional investors and hedge funds.

Innoviva Price Performance

Shares of INVA opened at $19.08 on Wednesday. The firm has a market capitalization of $1.38 billion, a PE ratio of 5.48, a PEG ratio of 4.15 and a beta of 0.38. The company’s 50-day moving average is $20.84 and its 200-day moving average is $21.86. Innoviva, Inc. has a fifty-two week low of $18.70 and a fifty-two week high of $25.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 15.44 and a quick ratio of 14.58.

Innoviva (NASDAQ:INVA) last posted its earnings results on Wednesday, November 4th. The biotechnology company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($1.55). The company had revenue of $106.12 million for the quarter, compared to analyst estimates of $115.31 million. Innoviva had a return on equity of 22.91% and a net margin of 44.13%. Equities analysts forecast that Innoviva, Inc. will post 1.52 EPS for the current year.

Analysts Set New Price Targets

INVA has been the topic of several research analyst reports. Cantor Fitzgerald dropped their price objective on Innoviva from $36.00 to $34.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Weiss Ratings raised Innoviva from a “hold (c+)” rating to a “buy (b)” rating in a research report on Monday. Wall Street Zen downgraded Innoviva from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Zacks Research raised Innoviva from a “strong sell” rating to a “hold” rating in a report on Monday, August 31st. Finally, Oppenheimer decreased their target price on Innoviva from $35.00 to $34.00 and set an “outperform” rating on the stock in a report on Thursday, November 5th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Innoviva Company Profile

Innoviva, Inc. is a biopharmaceutical company with two main areas of activity: royalty interests in respiratory medicines developed with GSK and the development and commercialization of specialty medicines. Its respiratory-related royalties include products such as Trelegy Ellipta, Anoro Ellipta and Breo Ellipta, which are used to treat chronic obstructive pulmonary disease and asthma and are marketed by GSK. Through its specialty therapeutics operations, Innoviva focuses on medicines for serious infections and other acute-care conditions.