27,858 Shares in Innoviva, Inc. $INVA Acquired by Jupiter Topco LLC

Jupiter Topco LLC purchased a new stake in Innoviva, Inc. (NASDAQ:INVA) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 27,858 shares of the biotechnology company’s stock, valued at approximately $633,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Parallel Advisors LLC increased its holdings in shares of Innoviva by 82.8% in the 1st quarter. Parallel Advisors LLC now owns 1,179 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 534 shares during the last quarter. Allworth Financial LP purchased a new position in Innoviva in the second quarter valued at approximately $42,000. EverSource Wealth Advisors LLC increased its stake in Innoviva by 297.7% in the second quarter. EverSource Wealth Advisors LLC now owns 2,398 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 1,795 shares during the last quarter. Danske Bank A S acquired a new stake in Innoviva during the third quarter worth approximately $55,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Innoviva during the 2nd quarter worth approximately $92,000. Institutional investors and hedge funds own 99.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on INVA. Weiss Ratings downgraded Innoviva from a “buy (b)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. HC Wainwright reaffirmed a “buy” rating and issued a $46.00 target price on shares of Innoviva in a report on Monday, June 1st. Cantor Fitzgerald lowered their price target on Innoviva from $36.00 to $34.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Zacks Research raised Innoviva from a “strong sell” rating to a “hold” rating in a research note on Monday, August 31st. Finally, BTIG Research reiterated a “buy” rating and issued a $42.00 target price on shares of Innoviva in a research note on Monday, June 22nd. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $34.75.

Innoviva Stock Performance

NASDAQ:INVA opened at $21.33 on Monday. The company has a current ratio of 16.01, a quick ratio of 15.18 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $1.54 billion, a P/E ratio of 5.20 and a beta of 0.33. The firm has a 50-day moving average price of $21.44 and a two-hundred day moving average price of $22.33. Innoviva, Inc. has a twelve month low of $16.52 and a twelve month high of $25.15.

About Innoviva

Innoviva, Inc, incorporated in Delaware and headquartered in San Francisco, California, is a royalty-focused life sciences company. It acquires, manages and monetizes royalty and license interests in biopharmaceutical products, with a primary emphasis on inhaled respiratory therapies. Innoviva’s portfolio is anchored by royalties on therapies originally developed by its former affiliate, now marketed by GlaxoSmithKline, including several long-acting inhaled products approved for chronic obstructive pulmonary disease (COPD) and asthma.

The company was established through a spin?out transaction in 2014, separating the royalty assets from a research?based biopharmaceutical enterprise to create a specialized investment vehicle.