Innoviva, Inc. $INVA Position Trimmed by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in shares of Innoviva, Inc. (NASDAQ:INVA) by 14.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,302 shares of the biotechnology company’s stock after selling 8,196 shares during the period. New York State Teachers Retirement System owned about 0.08% of Innoviva worth $990,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Ritholtz Wealth Management boosted its holdings in Innoviva by 17.0% during the second quarter. Ritholtz Wealth Management now owns 89,362 shares of the biotechnology company’s stock worth $1,795,000 after buying an additional 12,990 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Innoviva by 484.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 292,208 shares of the biotechnology company’s stock valued at $5,870,000 after acquiring an additional 242,193 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Innoviva by 16.5% in the 2nd quarter. QRG Capital Management Inc. now owns 112,465 shares of the biotechnology company’s stock valued at $2,259,000 after acquiring an additional 15,948 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Innoviva by 7.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 32,874 shares of the biotechnology company’s stock valued at $659,000 after acquiring an additional 2,349 shares in the last quarter. Finally, Ballentine Partners LLC purchased a new stake in shares of Innoviva in the 2nd quarter valued at approximately $350,000. 99.12% of the stock is currently owned by institutional investors.

Innoviva Stock Up 5.5%

INVA stock opened at $18.35 on Thursday. Innoviva, Inc. has a 12-month low of $16.52 and a 12-month high of $22.00. The company has a quick ratio of 2.44, a current ratio of 2.64 and a debt-to-equity ratio of 0.36. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 59.20 and a beta of 0.40. The company has a 50 day moving average of $19.08 and a two-hundred day moving average of $19.17.

Innoviva (NASDAQ:INVA) last released its earnings results on Wednesday, August 6th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.20. Innoviva had a net margin of 10.44% and a return on equity of 18.67%. The company had revenue of $100.28 million during the quarter, compared to the consensus estimate of $87.10 million. On average, equities analysts anticipate that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

INVA has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Innoviva from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 3rd. Zacks Research upgraded shares of Innoviva from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 8th. HC Wainwright upped their price target on shares of Innoviva from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, August 11th. The Goldman Sachs Group initiated coverage on shares of Innoviva in a research report on Tuesday, September 30th. They issued a “sell” rating and a $17.00 price target for the company. Finally, Cantor Fitzgerald initiated coverage on shares of Innoviva in a research report on Friday, July 11th. They issued an “overweight” rating and a $26.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Innoviva currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.60.

Innoviva Profile

Innoviva, Inc engages in the development and commercialization of pharmaceutical products in the United States and internationally. The company’s products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a LABA, vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate; ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA) and umeclidinium bromide (UMEC) with a LABA, VI; GIAPREZA (angiotensin II), a vasoconstrictor to increase blood pressure in adults with septic or other distributive shock; XERAVA (eravacycline) for the treatment of complicated intra-abdominal infections in adults; and XACDURO, a beta lactamase inhibitor for the treatment of hospital-acquired bacterial pneumonia and ventilator-associated bacterial pneumonia.