Jennison Associates LLC raised its position in Innoviva, Inc. (NASDAQ:INVA – Free Report) by 50.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 69,767 shares of the biotechnology company’s stock after purchasing an additional 23,364 shares during the period. Jennison Associates LLC’s holdings in Innoviva were worth $1,626,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also modified their holdings of INVA. Universal Beteiligungs und Servicegesellschaft mbH raised its position in Innoviva by 49.9% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 173,119 shares of the biotechnology company’s stock valued at $3,457,000 after purchasing an additional 57,616 shares during the last quarter. Hsbc Holdings PLC purchased a new position in Innoviva during the 4th quarter worth $6,428,000. Hussman Strategic Advisors Inc. grew its position in Innoviva by 150.0% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 105,000 shares of the biotechnology company’s stock worth $2,099,000 after purchasing an additional 63,000 shares during the last quarter. Legato Capital Management LLC acquired a new position in Innoviva in the fourth quarter valued at $1,425,000. Finally, Vanguard Group Inc. increased its stake in Innoviva by 11.6% in the fourth quarter. Vanguard Group Inc. now owns 7,917,103 shares of the biotechnology company’s stock valued at $158,263,000 after purchasing an additional 819,757 shares during the period. 99.12% of the stock is owned by institutional investors and hedge funds.
Innoviva Stock Performance
Shares of INVA opened at $21.43 on Thursday. The stock has a market capitalization of $1.58 billion, a P/E ratio of 3.57 and a beta of 0.34. The company has a debt-to-equity ratio of 0.19, a quick ratio of 20.07 and a current ratio of 21.13. Innoviva, Inc. has a 1 year low of $16.52 and a 1 year high of $25.15. The company’s fifty day moving average is $22.30 and its two-hundred day moving average is $22.17.
Analysts Set New Price Targets
INVA has been the subject of several recent research reports. BTIG Research reiterated a “buy” rating and set a $42.00 target price on shares of Innoviva in a research note on Monday, June 22nd. Wall Street Zen upgraded Innoviva from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. HC Wainwright reaffirmed a “buy” rating and set a $46.00 price objective on shares of Innoviva in a research note on Monday, June 1st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Innoviva in a research note on Wednesday, June 24th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.20.
Check Out Our Latest Stock Report on Innoviva
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.
Featured Articles
- Five stocks we like better than Innoviva
- Could Truth API Become Trump Media’s First Meaningful Revenue Driver?
- Small Caps Are Crushing the S&P 500—3 Stocks Still Worth Buying
- Moog Is More Than a Missile Maker, and Wall Street Is Noticing
- A Boring Dividend Growth Strategy Becomes a Solid Defensive Play
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 – Free Report).
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.
