Westfield Capital Management Co. LP Decreases Stake in Innoviva, Inc. (NASDAQ:INVA)

Westfield Capital Management Co. LP reduced its stake in Innoviva, Inc. (NASDAQ:INVA) by 19.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,111,663 shares of the biotechnology company’s stock after selling 502,464 shares during the period. Westfield Capital Management Co. LP owned about 3.34% of Innoviva worth $32,182,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Pacer Advisors Inc. grew its position in shares of Innoviva by 119,140.3% in the 4th quarter. Pacer Advisors Inc. now owns 1,728,984 shares of the biotechnology company’s stock worth $27,733,000 after buying an additional 1,727,534 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Innoviva in the 4th quarter worth approximately $4,663,000. CWA Asset Management Group LLC bought a new stake in shares of Innoviva in the 4th quarter worth approximately $4,070,000. Charles Schwab Investment Management Inc. grew its position in shares of Innoviva by 17.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 933,259 shares of the biotechnology company’s stock worth $14,969,000 after buying an additional 135,456 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Innoviva in the 4th quarter worth approximately $1,940,000. 99.12% of the stock is owned by hedge funds and other institutional investors.

Innoviva Stock Up 0.5 %

Shares of NASDAQ INVA traded up $0.08 during mid-day trading on Friday, hitting $17.19. 383,307 shares of the stock traded hands, compared to its average volume of 545,654. The company has a debt-to-equity ratio of 0.63, a quick ratio of 9.17 and a current ratio of 10.42. Innoviva, Inc. has a 52 week low of $12.22 and a 52 week high of $17.53. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 7.74 and a beta of 0.57. The stock has a fifty day moving average price of $16.21 and a 200-day moving average price of $15.73.

Innoviva (NASDAQ:INVA) last released its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported $0.46 earnings per share for the quarter. Innoviva had a return on equity of 28.94% and a net margin of 58.21%. The company had revenue of $77.50 million for the quarter. Research analysts anticipate that Innoviva, Inc. will post 1.09 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on INVA. Cantor Fitzgerald began coverage on Innoviva in a research report on Tuesday, June 18th. They issued an “overweight” rating on the stock. StockNews.com upgraded Innoviva from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 15th.

Innoviva Profile

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.