Fox Run Management L.L.C. Makes New $1.23 Million Investment in Innoviva, Inc. $INVA

Fox Run Management L.L.C. purchased a new position in shares of Innoviva, Inc. (NASDAQ:INVA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 61,653 shares of the biotechnology company’s stock, valued at approximately $1,232,000. Fox Run Management L.L.C. owned 0.08% of Innoviva as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oliver Luxxe Assets LLC acquired a new stake in shares of Innoviva during the 4th quarter valued at about $1,693,000. Allianz Asset Management GmbH grew its position in shares of Innoviva by 139.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 196,831 shares of the biotechnology company’s stock valued at $3,592,000 after acquiring an additional 114,549 shares during the period. Orion Porfolio Solutions LLC grew its position in shares of Innoviva by 28.2% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 101,858 shares of the biotechnology company’s stock valued at $1,859,000 after acquiring an additional 22,412 shares during the period. Jennison Associates LLC acquired a new stake in shares of Innoviva during the 4th quarter valued at about $928,000. Finally, Royce & Associates LP grew its position in shares of Innoviva by 641.2% during the 3rd quarter. Royce & Associates LP now owns 505,906 shares of the biotechnology company’s stock valued at $9,233,000 after acquiring an additional 437,654 shares during the period. 99.12% of the stock is owned by institutional investors and hedge funds.

Innoviva Trading Up 0.9%

INVA opened at $22.54 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 21.13 and a quick ratio of 20.07. The company’s 50 day simple moving average is $22.88 and its two-hundred day simple moving average is $21.77. Innoviva, Inc. has a 1-year low of $16.52 and a 1-year high of $25.15. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 3.75 and a beta of 0.35.

Innoviva (NASDAQ:INVA) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Innoviva had a net margin of 119.89% and a return on equity of 33.33%. The business had revenue of $97.99 million for the quarter, compared to analyst estimates of $101.57 million. Analysts expect that Innoviva, Inc. will post 2.23 EPS for the current fiscal year.

Analyst Ratings Changes

INVA has been the topic of a number of analyst reports. Wall Street Zen upgraded Innoviva from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Innoviva in a research note on Friday, March 27th. BTIG Research reaffirmed a “buy” rating and issued a $42.00 price target on shares of Innoviva in a research note on Tuesday, May 26th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $46.00 price target on shares of Innoviva in a research note on Monday, June 1st. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.20.

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.