Systematic Financial Management LP Has $47.16 Million Position in Innoviva, Inc. $INVA

Systematic Financial Management LP cut its holdings in Innoviva, Inc. (NASDAQ:INVA) by 4.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,024,082 shares of the biotechnology company’s stock after selling 90,447 shares during the quarter. Innoviva comprises 1.1% of Systematic Financial Management LP’s portfolio, making the stock its 19th largest position. Systematic Financial Management LP’s holdings in Innoviva were worth $47,161,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in INVA. Jennison Associates LLC bought a new position in Innoviva in the 4th quarter worth approximately $928,000. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Innoviva by 49.9% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 173,119 shares of the biotechnology company’s stock valued at $3,457,000 after buying an additional 57,616 shares during the last quarter. Hussman Strategic Advisors Inc. lifted its holdings in shares of Innoviva by 150.0% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 105,000 shares of the biotechnology company’s stock worth $2,099,000 after buying an additional 63,000 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Innoviva in the fourth quarter worth $6,428,000. Finally, Legato Capital Management LLC bought a new position in shares of Innoviva during the fourth quarter worth $1,425,000. Institutional investors own 99.12% of the company’s stock.

Wall Street Analysts Forecast Growth

INVA has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $46.00 target price on shares of Innoviva in a research note on Monday, June 1st. Wall Street Zen upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Innoviva in a report on Wednesday, June 24th. Finally, BTIG Research reissued a “buy” rating and set a $42.00 price objective on shares of Innoviva in a report on Monday, June 22nd. Five equities research 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $36.20.

Innoviva Stock Down 1.1%

Shares of INVA opened at $21.20 on Friday. 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 stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 3.53 and a beta of 0.34. Innoviva, Inc. has a 1 year low of $16.52 and a 1 year high of $25.15. The business’s 50 day simple moving average is $22.27 and its 200-day simple moving average is $22.18.

Innoviva (NASDAQ:INVA) last posted its earnings results on Wednesday, May 6th. The biotechnology company reported $0.44 earnings per share for the quarter, beating 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 firm had revenue of $97.99 million during the quarter, compared to analyst estimates of $101.57 million. As a group, equities analysts expect that Innoviva, Inc. will post 2.2 earnings per share for the current fiscal year.

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.