Royce & Associates LP Buys 13,414 Shares of Innoviva, Inc. (NASDAQ:INVA)

Royce & Associates LP increased its position in shares of Innoviva, Inc. (NASDAQ:INVA) by 30.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,908 shares of the biotechnology company’s stock after acquiring an additional 13,414 shares during the quarter. Royce & Associates LP owned about 0.09% of Innoviva worth $1,118,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. EdgeRock Capital LLC acquired a new position in shares of Innoviva in the 2nd quarter valued at $31,000. Bessemer Group Inc. grew its stake in Innoviva by 333.5% in the first quarter. Bessemer Group Inc. now owns 2,211 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 1,701 shares during the period. Innealta Capital LLC bought a new stake in shares of Innoviva in the second quarter worth about $33,000. US Bancorp DE raised its position in shares of Innoviva by 24.5% during the third quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 566 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Innoviva by 53.7% in the 2nd quarter. GAMMA Investing LLC now owns 3,476 shares of the biotechnology company’s stock valued at $57,000 after purchasing an additional 1,214 shares during the period. Institutional investors and hedge funds own 99.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. StockNews.com lowered shares of Innoviva from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Innoviva in a research note on Tuesday, July 30th.

Innoviva Stock Up 0.7 %

Shares of Innoviva stock opened at $19.09 on Wednesday. The firm has a market cap of $1.20 billion, a PE ratio of 27.67 and a beta of 0.57. The business’s 50 day simple moving average is $19.63 and its 200 day simple moving average is $18.04. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 1.79. Innoviva, Inc. has a 52-week low of $13.41 and a 52-week high of $21.28.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.25). The business had revenue of $89.51 million during the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. On average, analysts predict that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

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.