Innoviva, Inc. $INVA Shares Purchased by American Century Companies Inc.
American Century Companies Inc. increased its stake in Innoviva, Inc. by 23.3% in Q2, owning 3.29% of the company. Innoviva's stock opened at $21.75, with a market cap of $1.63 billion. Analysts have mixed ratings, with a consensus of "Moderate Buy" and an average price target of $38.60. Innoviva reported strong quarterly earnings, surpassing expectations.
American Century Companies Inc. raised its position in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 23.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,066,753 shares of the biotechnology company's stock after acquiring an additional 391,056 shares during the quarter. American Century Companies Inc. owned approximately 3.29% of Innoviva worth $41,521,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Martingale Asset Management L P boosted its stake in shares of Innoviva by 0.7% in the first quarter. Martingale Asset Management L P now owns 78,412 shares of the biotechnology company's stock valued at $1,422,000 after purchasing an additional 570 shares during the period. Bank of Montreal Can lifted its holdings in Innoviva by 4.2% during the 2nd quarter. Bank of Montreal Can now owns 18,853 shares of the biotechnology company's stock worth $379,000 after buying an additional 767 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in Innoviva by 5.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 16,053 shares of the biotechnology company's stock worth $323,000 after buying an additional 889 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Innoviva by 7.6% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,183 shares of the biotechnology company's stock valued at $285,000 after buying an additional 1,000 shares during the period. Finally, Parallel Advisors LLC grew its stake in shares of 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 acquiring an additional 1,131 shares in the last quarter. 99.12% of the stock is currently owned by hedge funds and other institutional investors.
Innoviva Price Performance
INVA stock opened at $21.75 on Friday. The business has a 50 day moving average price of $19.13 and a 200 day moving average price of $19.56. 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 stock has a market cap of $1.63 billion, a price-to-earnings ratio of 70.17 and a beta of 0.42. Innoviva, Inc. has a fifty-two week low of $16.52 and a fifty-two week high of $22.76.
Innoviva (NASDAQ:INVA - Get Free Report) last released its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $1.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.62. The company had revenue of $107.80 million for the quarter, compared to analysts' expectations of $91.31 million. Innoviva had a net margin of 10.44% and a return on equity of 18.67%. Equities research analysts anticipate that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
INVA has been the topic of several analyst reports. Cantor Fitzgerald increased their price objective on Innoviva from $29.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, November 6th. Oppenheimer started coverage on Innoviva in a report on Monday, August 11th. They set an "outperform" rating and a $45.00 price target on the stock. Zacks Research lowered Innoviva from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 6th. HC Wainwright boosted their price objective on Innoviva from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Finally, Wall Street Zen raised shares of Innoviva from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 25th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $38.60.
View Our Latest Stock Report on Innoviva
About Innoviva
(Free Report)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.
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