Algert Global LLC raised its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 150,276 shares of the biotechnology company’s stock after buying an additional 8,405 shares during the period. Algert Global LLC owned about 0.14% of Innoviva worth $1,924,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Aperio Group LLC raised its position in shares of Innoviva by 2.0% in the second quarter. Aperio Group LLC now owns 20,651 shares of the biotechnology company’s stock valued at $264,000 after buying an additional 398 shares in the last quarter. Texas Permanent School Fund raised its position in shares of Innoviva by 1.0% in the second quarter. Texas Permanent School Fund now owns 56,687 shares of the biotechnology company’s stock valued at $726,000 after buying an additional 552 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Innoviva by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 31,600 shares of the biotechnology company’s stock valued at $437,000 after buying an additional 600 shares in the last quarter. Arizona State Retirement System raised its position in shares of Innoviva by 1.8% in the first quarter. Arizona State Retirement System now owns 40,400 shares of the biotechnology company’s stock valued at $559,000 after buying an additional 700 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of Innoviva by 4.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 18,300 shares of the biotechnology company’s stock valued at $234,000 after buying an additional 710 shares in the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Shares of Innoviva, Inc. (NASDAQ INVA) opened at 12.89 on Tuesday. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 16.13 and a beta of 2.56. The firm’s 50-day moving average price is $12.85 and its 200 day moving average price is $12.35. Innoviva, Inc. has a 1-year low of $8.67 and a 1-year high of $14.55.

Innoviva (NASDAQ:INVA) last announced its quarterly earnings data on Wednesday, July 26th. The biotechnology company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.02. The firm had revenue of $58.60 million during the quarter, compared to the consensus estimate of $50.53 million. Innoviva had a net margin of 52.56% and a negative return on equity of 27.37%. The firm’s revenue was up 80.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 earnings per share. Equities research analysts expect that Innoviva, Inc. will post $1.14 earnings per share for the current fiscal year.

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Several equities analysts recently weighed in on the company. Robert W. Baird restated a “neutral” rating and issued a $13.00 price target (up previously from $11.00) on shares of Innoviva in a research note on Thursday, July 27th. Zacks Investment Research upgraded Innoviva from a “hold” rating to a “strong-buy” rating and set a $16.00 price target for the company in a research note on Monday, July 31st. Cowen and Company set a $16.00 price target on Innoviva and gave the company a “buy” rating in a research note on Friday, July 28th. Stifel Nicolaus restated a “hold” rating and issued a $15.00 price target on shares of Innoviva in a research note on Friday, July 28th. Finally, ValuEngine lowered Innoviva from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $15.00.

In other Innoviva news, VP Theodore J. Jr. Witek sold 7,815 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $12.01, for a total value of $93,858.15. Following the completion of the transaction, the vice president now directly owns 251,968 shares of the company’s stock, valued at $3,026,135.68. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.60% of the company’s stock.

About Innoviva

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)).

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Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

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