Innoviva, Inc. $INVA Shares Bought by Marshall Wace LLP

Marshall Wace LLP lifted its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 870.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,332,966 shares of the biotechnology company’s stock after acquiring an additional 1,195,596 shares during the period. Marshall Wace LLP owned 2.12% of Innoviva worth $26,779,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in INVA. Parallel Advisors LLC boosted its stake in shares of Innoviva by 157.5% during the 2nd 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. Elevation Point Wealth Partners LLC purchased a new position in shares of Innoviva during the second quarter valued at approximately $43,000. EverSource Wealth Advisors LLC boosted its position in Innoviva by 297.7% during the second quarter. EverSource Wealth Advisors LLC now owns 2,398 shares of the biotechnology company’s stock worth $48,000 after acquiring an additional 1,795 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Innoviva in the 1st quarter worth approximately $56,000. Finally, Hantz Financial Services Inc. grew its stake in Innoviva by 4,715.6% in the 2nd quarter. Hantz Financial Services Inc. now owns 4,623 shares of the biotechnology company’s stock worth $93,000 after acquiring an additional 4,527 shares during the period. Institutional investors and hedge funds own 99.12% of the company’s stock.

Innoviva Stock Performance

NASDAQ INVA opened at $20.74 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 14.12 and a quick ratio of 13.33. Innoviva, Inc. has a 1-year low of $16.52 and a 1-year high of $22.76. The firm has a market capitalization of $1.55 billion, a P/E ratio of 15.14 and a beta of 0.47. The business’s 50-day simple moving average is $19.33 and its 200-day simple moving average is $19.66.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.46 by $0.62. Innoviva had a net margin of 32.78% and a return on equity of 28.17%. The firm had revenue of $107.80 million for the quarter, compared to analyst estimates of $91.31 million. Equities analysts predict that Innoviva, Inc. will post 0.33 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Zacks Research cut Innoviva from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. Oppenheimer started coverage on Innoviva in a research report on Monday, August 11th. They set an “outperform” rating and a $45.00 target price on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Innoviva in a research note on Monday, December 1st. The Goldman Sachs Group started coverage on shares of Innoviva in a research note on Tuesday, September 30th. They set a “sell” rating and a $17.00 price objective for the company. Finally, HC Wainwright raised their target price on shares of Innoviva from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.60.

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.