Louisiana State Employees Retirement System Invests $452,000 in Innoviva, Inc. (NASDAQ:INVA)

Louisiana State Employees Retirement System acquired a new position in Innoviva, Inc. (NASDAQ:INVA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 28,200 shares of the biotechnology company’s stock, valued at approximately $452,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of INVA. Quantbot Technologies LP purchased a new position in shares of Innoviva in the 3rd quarter worth approximately $29,000. China Universal Asset Management Co. Ltd. grew its position in shares of Innoviva by 342.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,410 shares of the biotechnology company’s stock worth $119,000 after buying an additional 5,736 shares during the last quarter. Avantax Advisory Services Inc. purchased a new position in shares of Innoviva in the 3rd quarter worth approximately $137,000. Profund Advisors LLC grew its position in shares of Innoviva by 7.9% in the 3rd quarter. Profund Advisors LLC now owns 11,879 shares of the biotechnology company’s stock worth $154,000 after buying an additional 871 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in shares of Innoviva by 11.1% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,000 shares of the biotechnology company’s stock worth $156,000 after buying an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Analyst Ratings Changes

INVA has been the topic of several research analyst reports. TheStreet raised shares of Innoviva from a “c” rating to a “b-” rating in a research report on Thursday, February 29th. StockNews.com raised shares of Innoviva from a “hold” rating to a “buy” rating in a research report on Friday, March 29th.

Innoviva Stock Up 1.8 %

NASDAQ:INVA opened at $15.54 on Tuesday. The company has a market cap of $982.59 million, a PE ratio of 7.13 and a beta of 0.57. Innoviva, Inc. has a twelve month low of $11.37 and a twelve month high of $16.86. The company has a current ratio of 9.03, a quick ratio of 7.96 and a debt-to-equity ratio of 0.66. The company’s 50 day moving average is $15.00 and its two-hundred day moving average is $14.96.

Innoviva (NASDAQ:INVA) last released its quarterly earnings data on Thursday, February 29th. The biotechnology company reported $0.76 EPS for the quarter. The business had revenue of $85.84 million for the quarter. Innoviva had a net margin of 57.89% and a return on equity of 30.37%.

About Innoviva

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.