Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its holdings in Innoviva Inc (NASDAQ:INVA) by 8.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 330,500 shares of the biotechnology company’s stock after buying an additional 25,900 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned 0.31% of Innoviva worth $4,690,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of INVA. Sei Investments Co. increased its stake in Innoviva by 33,810.3% in the 3rd quarter. Sei Investments Co. now owns 9,834 shares of the biotechnology company’s stock worth $138,000 after buying an additional 9,805 shares in the last quarter. Macquarie Group Ltd. purchased a new position in shares of Innoviva during the third quarter valued at about $144,000. Jane Street Group LLC purchased a new position in shares of Innoviva during the third quarter valued at about $144,000. Magnetar Financial LLC purchased a new position in shares of Innoviva during the third quarter valued at about $182,000. Finally, Meadow Creek Investment Management LLC grew its position in shares of Innoviva by 30.0% during the fourth quarter. Meadow Creek Investment Management LLC now owns 14,084 shares of the biotechnology company’s stock valued at $200,000 after purchasing an additional 3,248 shares in the last quarter. Institutional investors and hedge funds own 74.99% of the company’s stock.
A number of brokerages have recently weighed in on INVA. BidaskClub upgraded Innoviva from a “buy” rating to a “strong-buy” rating in a research report on Saturday. ValuEngine upgraded Innoviva from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Zacks Investment Research lowered Innoviva from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. TheStreet upgraded Innoviva from a “c+” rating to a “b” rating in a research report on Friday, February 9th. Finally, Stifel Nicolaus restated a “hold” rating and set a $17.00 price objective on shares of Innoviva in a research report on Friday, February 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Innoviva presently has a consensus rating of “Hold” and an average price target of $13.83.
Innoviva stock opened at $16.14 on Friday. The firm has a market capitalization of $1,643.44, a PE ratio of 13.91 and a beta of 2.34. The company has a current ratio of 5.77, a quick ratio of 5.77 and a debt-to-equity ratio of -2.37. Innoviva Inc has a 12-month low of $11.02 and a 12-month high of $17.21.
Innoviva (NASDAQ:INVA) last released its quarterly earnings results on Thursday, February 8th. The biotechnology company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The company had revenue of $69.52 million during the quarter, compared to analyst estimates of $67.41 million. Innoviva had a negative return on equity of 48.93% and a net margin of 61.76%. The firm’s revenue was up 59.4% on a year-over-year basis. During the same quarter last year, the business posted $0.22 earnings per share. sell-side analysts forecast that Innoviva Inc will post 1.99 EPS for the current year.
Innoviva, Inc, formerly Theravance, Inc, is engaged in the development, commercialization and financial management of bio-pharmaceuticals. It focuses on the respiratory assets partnered with Glaxo Group Limited (GSK), including RELVAR/BREO ELLIPTA (fluticasone furoate (FF)/vilanterol (VI)) and ANORO ELLIPTA (umeclidinium bromide/vilanterol (UMEC/VI)).
Want to see what other hedge funds are holding INVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Innoviva Inc (NASDAQ:INVA).
Receive News & Ratings for Innoviva Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innoviva and related companies with MarketBeat.com's FREE daily email newsletter.