Pacer Advisors Inc. Has $7.62 Million Holdings in Innoviva, Inc. $INVA

Pacer Advisors Inc. decreased its position in shares of Innoviva, Inc. (NASDAQ:INVA) by 17.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 381,373 shares of the biotechnology company’s stock after selling 83,249 shares during the quarter. Pacer Advisors Inc.’s holdings in Innoviva were worth $7,624,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Innoviva by 297.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,398 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 1,795 shares in the last quarter. Danske Bank A S acquired a new stake in Innoviva in the 3rd quarter valued at $55,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Innoviva by 49.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,633 shares of the biotechnology company’s stock valued at $73,000 after purchasing an additional 1,197 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Innoviva during the 2nd quarter valued at $92,000. Finally, Ensign Peak Advisors Inc acquired a new position in Innoviva during the fourth quarter worth $115,000. 99.12% of the stock is owned by institutional investors and hedge funds.

Innoviva Price Performance

Shares of NASDAQ:INVA opened at $22.49 on Monday. The business’s 50 day moving average is $22.78 and its 200 day moving average is $21.83. Innoviva, Inc. has a 12-month low of $16.52 and a 12-month high of $25.15. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 3.74 and a beta of 0.35. The company has a quick ratio of 20.07, a current ratio of 21.13 and a debt-to-equity ratio of 0.19.

Innoviva (NASDAQ:INVA) last released its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $97.99 million during the quarter, compared to analyst estimates of $101.57 million. Innoviva had a return on equity of 33.33% and a net margin of 119.89%. On average, sell-side analysts forecast that Innoviva, Inc. will post 2.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on INVA. Wall Street Zen raised shares of Innoviva from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Innoviva in a research report on Friday, March 27th. BTIG Research restated a “buy” rating and issued a $42.00 target price on shares of Innoviva in a report on Tuesday, May 26th. Finally, HC Wainwright restated a “buy” rating and issued a $46.00 target price on shares of Innoviva in a report on Monday, June 1st. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Innoviva has a consensus rating of “Moderate Buy” and a consensus price target of $36.20.

About Innoviva

Innoviva, Inc, incorporated in Delaware and headquartered in San Francisco, California, is a royalty-focused life sciences company. It acquires, manages and monetizes royalty and license interests in biopharmaceutical products, with a primary emphasis on inhaled respiratory therapies. Innoviva’s portfolio is anchored by royalties on therapies originally developed by its former affiliate, now marketed by GlaxoSmithKline, including several long-acting inhaled products approved for chronic obstructive pulmonary disease (COPD) and asthma.

The company was established through a spin‐out transaction in 2014, separating the royalty assets from a research‐based biopharmaceutical enterprise to create a specialized investment vehicle.