State of Alaska Department of Revenue Has $1.03 Million Holdings in Innoviva, Inc. $INVA

State of Alaska Department of Revenue lifted its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 71.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,549 shares of the biotechnology company’s stock after buying an additional 21,424 shares during the period. State of Alaska Department of Revenue owned about 0.07% of Innoviva worth $1,029,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of INVA. Royal Bank of Canada increased its holdings in shares of Innoviva by 81.1% during the first quarter. Royal Bank of Canada now owns 21,530 shares of the biotechnology company’s stock worth $389,000 after buying an additional 9,639 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Innoviva by 17.8% during the first quarter. AQR Capital Management LLC now owns 167,456 shares of the biotechnology company’s stock worth $3,036,000 after buying an additional 25,317 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Innoviva by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,882 shares of the biotechnology company’s stock worth $596,000 after buying an additional 1,392 shares in the last quarter. NewEdge Advisors LLC acquired a new position in shares of Innoviva during the first quarter worth $243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Innoviva by 21.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 171,116 shares of the biotechnology company’s stock worth $3,102,000 after buying an additional 30,792 shares in the last quarter. 99.12% of the stock is currently owned by institutional investors and hedge funds.

Innoviva Stock Performance

Shares of INVA opened at $23.61 on Wednesday. The stock has a market capitalization of $1.75 billion, a P/E ratio of 7.74 and a beta of 0.40. The company has a current ratio of 14.64, a quick ratio of 13.85 and a debt-to-equity ratio of 0.22. The firm’s fifty day simple moving average is $22.96 and its two-hundred day simple moving average is $20.91. Innoviva, Inc. has a 12 month low of $16.52 and a 12 month high of $25.15.

Innoviva (NASDAQ:INVA) last announced its earnings results on Wednesday, February 25th. The biotechnology company reported $1.94 EPS for the quarter, beating the consensus estimate of $0.34 by $1.60. Innoviva had a return on equity of 37.63% and a net margin of 65.92%.The company had revenue of $114.61 million for the quarter, compared to analyst estimates of $102.62 million. As a group, analysts predict that Innoviva, Inc. will post 1.99 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on INVA shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Innoviva in a report on Friday, March 27th. BTIG Research reiterated a “buy” rating and set a $35.00 price target on shares of Innoviva in a report on Thursday, February 26th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Innoviva currently has an average rating of “Moderate Buy” and a consensus target price of $34.80.

Innoviva Company Profile

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.