State of Alaska Department of Revenue Acquires 28,254 Shares of Innoviva Inc (NASDAQ:INVA)

State of Alaska Department of Revenue boosted its stake in shares of Innoviva Inc (NASDAQ:INVA) by 122.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,351 shares of the biotechnology company’s stock after purchasing an additional 28,254 shares during the quarter. State of Alaska Department of Revenue owned about 0.05% of Innoviva worth $541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Marshall Wace LLP purchased a new position in Innoviva during the first quarter valued at approximately $623,000. Marshall Wace North America L.P. purchased a new stake in shares of Innoviva in the first quarter valued at approximately $490,000. First Trust Advisors LP increased its position in shares of Innoviva by 73.3% in the first quarter. First Trust Advisors LP now owns 219,037 shares of the biotechnology company’s stock valued at $3,073,000 after buying an additional 92,637 shares in the last quarter. Valeo Financial Advisors LLC purchased a new stake in shares of Innoviva in the second quarter valued at approximately $100,000. Finally, CWM Advisors LLC increased its position in shares of Innoviva by 8.3% in the second quarter. CWM Advisors LLC now owns 12,025 shares of the biotechnology company’s stock valued at $175,000 after buying an additional 925 shares in the last quarter. 75.96% of the stock is currently owned by institutional investors.

Several analysts recently commented on INVA shares. TheStreet cut Innoviva from a “b-” rating to a “c+” rating in a research report on Thursday, August 8th. Zacks Investment Research upgraded Innoviva from a “hold” rating to a “strong-buy” rating and set a $14.00 price target for the company in a research report on Wednesday. BidaskClub raised Innoviva from a “strong sell” rating to a “sell” rating in a research note on Saturday, November 2nd. Finally, ValuEngine raised Innoviva from a “sell” rating to a “hold” rating in a research note on Friday, November 1st.

Shares of Innoviva stock traded up $0.32 during trading hours on Friday, hitting $12.50. The company’s stock had a trading volume of 472,700 shares, compared to its average volume of 884,571. Innoviva Inc has a twelve month low of $10.03 and a twelve month high of $20.54. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 3.54 and a beta of 1.45. The company has a debt-to-equity ratio of 1.37, a quick ratio of 110.18 and a current ratio of 110.18. The firm has a fifty day moving average of $10.94 and a 200-day moving average of $12.58.

Innoviva (NASDAQ:INVA) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $0.36 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.36. Innoviva had a return on equity of 168.69% and a net margin of 141.80%. The firm had revenue of $65.38 million for the quarter. On average, sell-side analysts expect that Innoviva Inc will post 2.03 earnings per share for the current fiscal year.

Innoviva Profile

Innoviva, Inc engages in the development and commercialization of pharmaceuticals. The company has long-acting beta2 agonist (LABA) collaboration agreement with Glaxo Group Limited to develop and commercialize once-daily products for the treatment of chronic obstructive pulmonary disease and asthma. Its products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a long-acting beta2 agonist (LABA), vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate (FF); ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA), umeclidinium bromide (UMEC), with a LABA, and VI; and TRELEGY ELLIPTA, a once-daily combination medicine consisting of an ICS, LAMA and LABA.

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Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

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