Innoviva, Inc. (NASDAQ:INVA) Shares Acquired by Assetmark Inc.

Assetmark Inc. grew its position in Innoviva, Inc. (NASDAQ:INVA) by 4.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 174,388 shares of the biotechnology company’s stock after acquiring an additional 7,509 shares during the period. Assetmark Inc.’s holdings in Innoviva were worth $3,162,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC grew its stake in shares of Innoviva by 75.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,962 shares of the biotechnology company’s stock valued at $86,000 after buying an additional 2,128 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Innoviva by 10.3% during the 1st quarter. Farther Finance Advisors LLC now owns 8,516 shares of the biotechnology company’s stock worth $153,000 after purchasing an additional 795 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in Innoviva during the 4th quarter worth about $176,000. Bailard Inc. acquired a new stake in Innoviva in the 1st quarter valued at about $189,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Innoviva in the 4th quarter valued at about $184,000. 99.12% of the stock is owned by institutional investors and hedge funds.

Innoviva Stock Down 0.4%

Shares of NASDAQ INVA opened at $18.46 on Wednesday. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -18.28 and a beta of 0.37. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.48 and a quick ratio of 2.30. The business has a 50-day moving average of $19.98 and a two-hundred day moving average of $18.74. Innoviva, Inc. has a 1 year low of $16.67 and a 1 year high of $22.00.

Innoviva (NASDAQ:INVA) last announced its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter. The company had revenue of $88.63 million during the quarter. Innoviva had a positive return on equity of 15.77% and a negative net margin of 16.15%. On average, analysts forecast that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

INVA has been the subject of a number of analyst reports. Cantor Fitzgerald assumed coverage on Innoviva in a research report on Friday, July 11th. They set an “overweight” rating and a $26.00 price objective for the company. Wall Street Zen upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a research note on Wednesday, April 30th. Finally, HC Wainwright assumed coverage on shares of Innoviva in a research note on Monday, July 14th. They issued a “buy” rating and a $40.00 price target for the company.

Innoviva Company 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.