Handelsbanken Fonder AB Purchases 800 Shares of Innoviva, Inc. (NASDAQ:INVA)

Handelsbanken Fonder AB grew its stake in shares of Innoviva, Inc. (NASDAQ:INVAGet Rating) by 4.1% during the third quarter, HoldingsChannel reports. The firm owned 20,476 shares of the biotechnology company’s stock after purchasing an additional 800 shares during the quarter. Handelsbanken Fonder AB’s holdings in Innoviva were worth $238,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Wipfli Financial Advisors LLC bought a new stake in shares of Innoviva during the 3rd quarter valued at about $34,000. Denali Advisors LLC lifted its position in Innoviva by 3.9% during the 3rd quarter. Denali Advisors LLC now owns 284,322 shares of the biotechnology company’s stock valued at $3,301,000 after acquiring an additional 10,700 shares during the period. Meritage Portfolio Management lifted its position in Innoviva by 8.8% during the 3rd quarter. Meritage Portfolio Management now owns 20,528 shares of the biotechnology company’s stock valued at $238,000 after acquiring an additional 1,664 shares during the period. Versor Investments LP lifted its position in Innoviva by 26.5% during the 3rd quarter. Versor Investments LP now owns 41,754 shares of the biotechnology company’s stock valued at $485,000 after acquiring an additional 8,748 shares during the period. Finally, SummerHaven Investment Management LLC purchased a new position in Innoviva during the 3rd quarter valued at about $614,000.

Innoviva Stock Up 1.3 %

INVA opened at $13.60 on Friday. The company has a quick ratio of 2.34, a current ratio of 2.77 and a debt-to-equity ratio of 0.69. The firm has a 50 day moving average price of $13.20 and a 200-day moving average price of $13.47. Innoviva, Inc. has a twelve month low of $11.56 and a twelve month high of $20.71. The stock has a market capitalization of $949.05 million, a price-to-earnings ratio of 4.26 and a beta of 0.55.

Innoviva (NASDAQ:INVAGet Rating) last announced its earnings results on Wednesday, November 9th. The biotechnology company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.75 by ($2.15). The business had revenue of $67.26 million for the quarter, compared to the consensus estimate of $361.45 million. Innoviva had a net margin of 78.39% and a return on equity of 23.89%. Equities research analysts forecast that Innoviva, Inc. will post 3.47 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on INVA. TheStreet raised shares of Innoviva from a “c” rating to a “b-” rating in a research report on Thursday, November 10th. Morgan Stanley lifted 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. Finally, StockNews.com assumed coverage on shares of Innoviva in a report on Wednesday, October 12th. They issued a “buy” rating for the company.

Innoviva Company 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.

See Also

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.