Innoviva, Inc. $INVA Shares Bought by Royce & Associates LP

Royce & Associates LP raised its stake in Innoviva, Inc. (NASDAQ:INVA) by 641.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 505,906 shares of the biotechnology company’s stock after purchasing an additional 437,654 shares during the quarter. Royce & Associates LP owned 0.80% of Innoviva worth $9,233,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. American Century Companies Inc. raised its stake in shares of Innoviva by 13.8% during the third quarter. American Century Companies Inc. now owns 2,351,006 shares of the biotechnology company’s stock worth $42,906,000 after purchasing an additional 284,253 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Innoviva by 85.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,708,482 shares of the biotechnology company’s stock valued at $34,323,000 after buying an additional 786,409 shares during the period. Bank of America Corp DE raised its position in Innoviva by 10.9% during the 2nd quarter. Bank of America Corp DE now owns 1,545,249 shares of the biotechnology company’s stock worth $31,044,000 after buying an additional 151,957 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Innoviva by 7.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,522,622 shares of the biotechnology company’s stock worth $30,593,000 after acquiring an additional 102,194 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of Innoviva by 870.3% in the second quarter. Marshall Wace LLP now owns 1,332,966 shares of the biotechnology company’s stock valued at $26,779,000 after acquiring an additional 1,195,596 shares in the last quarter. Institutional investors and hedge funds own 99.12% of the company’s stock.

Innoviva Price Performance

Shares of NASDAQ:INVA opened at $22.30 on Wednesday. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 7.31 and a beta of 0.42. The company has a debt-to-equity ratio of 0.22, a current ratio of 14.64 and a quick ratio of 13.85. The business’s 50 day simple moving average is $20.98 and its 200-day simple moving average is $20.10. Innoviva, Inc. has a 12 month low of $16.52 and a 12 month high of $25.15.

Innoviva (NASDAQ:INVA) last released its quarterly earnings data on Wednesday, February 25th. The biotechnology company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $0.34 by $1.60. The firm had revenue of $114.61 million during the quarter, compared to the consensus estimate of $102.62 million. Innoviva had a return on equity of 37.63% and a net margin of 65.92%. As a group, equities analysts forecast that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

Innoviva News Summary

Here are the key news stories impacting Innoviva this week:

• Positive Sentiment: HC Wainwright kept a strong stance on INVA with a “Buy” rating and a lofty $46.00 price target, and published multi-year EPS projections that imply substantial upside in 2026–2027 (their FY2026 and 2027 quarterly forecasts are materially higher than the Street consensus). This bullish posture supports upside sentiment and is a key reason investors may be bidding the stock higher today.
• Positive Sentiment: Cantor Fitzgerald raised its price target on INVA to $32 from $31, signaling incremental analyst optimism and adding to positive momentum. Cantor Fitzgerald Lifts PT
• Neutral Sentiment: Sector/peer disruption: news that Theravance Biopharma’s Phase 3 trial failed and the company is restructuring is moving respiratory/biotech headlines; impact on Innoviva is indirect unless investors re‑price royalty/partner exposures—this is a watch item but not a direct company announcement. Theravance Biopharma Plummets Theravance Restructures
• Negative Sentiment: HC Wainwright trimmed several near‑term EPS forecasts for INVA (Q1–Q4 2026 quarter-by-quarter cuts and a FY2026 reduction from $2.23 to $1.96). Specific downgrades included Q1 2026 (from $0.45 to $0.42), Q2 2026 (from $0.56 to $0.51), Q3 2026 (from $0.57 to $0.48) and Q4 2026 (from $0.66 to $0.55). Those downward revisions are a negative signal for near-term earnings momentum and could cap upside despite the high price targets.

Analysts Set New Price Targets

INVA has been the subject of several analyst reports. BTIG Research reissued a “buy” rating and set a $35.00 price target on shares of Innoviva in a report on Thursday, February 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Innoviva in a research note on Monday, December 29th. Zacks Research cut Innoviva from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. HC Wainwright upped their price objective on Innoviva from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Finally, Cantor Fitzgerald increased their price objective on Innoviva from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Innoviva has an average rating of “Moderate Buy” and an average target price of $38.17.

Innoviva Company Profile

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.