Baird Financial Group Inc. Lowers Stake in Innoviva, Inc. (NASDAQ:INVA)

Baird Financial Group Inc. lowered its position in shares of Innoviva, Inc. (NASDAQ:INVAGet Rating) by 29.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 36,944 shares of the biotechnology company’s stock after selling 15,062 shares during the period. Baird Financial Group Inc.’s holdings in Innoviva were worth $545,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in INVA. Comerica Bank lifted its holdings in shares of Innoviva by 2.2% in the first quarter. Comerica Bank now owns 55,838 shares of the biotechnology company’s stock worth $1,021,000 after buying an additional 1,198 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Innoviva in the first quarter worth $659,000. SG Americas Securities LLC purchased a new position in shares of Innoviva in the first quarter worth $1,344,000. Versor Investments LP purchased a new position in shares of Innoviva in the first quarter worth $534,000. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Innoviva by 13.9% in the first quarter. Envestnet Asset Management Inc. now owns 193,941 shares of the biotechnology company’s stock worth $3,753,000 after buying an additional 23,721 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on INVA shares. Morgan Stanley boosted their target price on shares of Innoviva from $13.00 to $14.00 and gave the stock an “underweight” rating in a report on Thursday, October 13th. StockNews.com started coverage on shares of Innoviva in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. Finally, TheStreet raised shares of Innoviva from a “c” rating to a “b-” rating in a report on Thursday, November 10th.

Innoviva Price Performance

Innoviva stock opened at $13.55 on Monday. The company has a market cap of $945.56 million, a price-to-earnings ratio of 4.25 and a beta of 0.59. The firm’s fifty day moving average is $12.85 and its 200 day moving average is $14.02. The company has a quick ratio of 2.34, a current ratio of 2.77 and a debt-to-equity ratio of 0.69. Innoviva, Inc. has a 52-week low of $11.56 and a 52-week high of $20.71.

Innoviva Profile

(Get Rating)

Innoviva, Inc engages in the development and commercialization of pharmaceuticals in the United States and internationally. Its 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), umeclidinium bromide (UMEC), with a LABA, and VI; and TRELEGY ELLIPTA, a once-daily combination medicine consisting of an ICS, LAMA, and LABA.

Featured Articles

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:INVAGet Rating).

Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

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.