Louisiana State Employees Retirement System Has $324,000 Stake in Innoviva Inc (NASDAQ:INVA)

Louisiana State Employees Retirement System lowered its position in shares of Innoviva Inc (NASDAQ:INVA) by 7.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,900 shares of the biotechnology company’s stock after selling 1,800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Innoviva were worth $324,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. 6 Meridian lifted its stake in shares of Innoviva by 78.3% in the 3rd quarter. 6 Meridian now owns 20,380 shares of the biotechnology company’s stock valued at $215,000 after purchasing an additional 8,953 shares during the period. United Services Automobile Association increased its holdings in Innoviva by 8.2% in the second quarter. United Services Automobile Association now owns 19,841 shares of the biotechnology company’s stock worth $289,000 after purchasing an additional 1,506 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in Innoviva by 7.5% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 31,600 shares of the biotechnology company’s stock worth $333,000 after purchasing an additional 2,200 shares in the last quarter. Voloridge Investment Management LLC increased its holdings in Innoviva by 37.8% in the third quarter. Voloridge Investment Management LLC now owns 35,856 shares of the biotechnology company’s stock worth $378,000 after purchasing an additional 9,834 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Innoviva by 122.3% in the third quarter. State of Alaska Department of Revenue now owns 51,351 shares of the biotechnology company’s stock valued at $541,000 after buying an additional 28,254 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

A number of equities analysts have issued reports on INVA shares. BidaskClub upgraded Innoviva from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. TheStreet upgraded shares of Innoviva from a “c+” rating to a “b-” rating in a research report on Thursday, December 12th. Zacks Investment Research downgraded shares of Innoviva from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, ValuEngine raised shares of Innoviva from a “sell” rating to a “hold” rating in a research note on Friday, November 1st.

Shares of NASDAQ INVA opened at $13.92 on Tuesday. The firm has a market capitalization of $1.44 billion, a P/E ratio of 4.25 and a beta of 1.51. The firm’s 50-day moving average price is $14.08 and its 200-day moving average price is $12.33. The company has a current ratio of 110.18, a quick ratio of 110.18 and a debt-to-equity ratio of 1.37. Innoviva Inc has a 1-year low of $10.03 and a 1-year high of $20.54.

Innoviva (NASDAQ:INVA) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $0.36 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. Innoviva had a return on equity of 168.69% and a net margin of 141.80%. The company had revenue of $65.38 million during the quarter. Equities research analysts forecast that Innoviva Inc will post 2.03 EPS for the current 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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