Synergy Asset Management LLC Has $1.49 Million Stock Position in Innoviva, Inc. $INVA

Synergy Asset Management LLC reduced its holdings in shares of Innoviva, Inc. (NASDAQ:INVA) by 26.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,359 shares of the biotechnology company’s stock after selling 27,100 shares during the quarter. Synergy Asset Management LLC owned approximately 0.10% of Innoviva worth $1,486,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall Wace LLP boosted its holdings in Innoviva by 870.3% during the second quarter. Marshall Wace LLP now owns 1,332,966 shares of the biotechnology company’s stock worth $26,779,000 after purchasing an additional 1,195,596 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 last quarter. Boston Partners lifted its position in Innoviva by 63.6% during the 3rd quarter. Boston Partners now owns 1,431,601 shares of the biotechnology company’s stock worth $26,125,000 after buying an additional 556,517 shares in the last quarter. Royce & Associates LP boosted its stake in shares of Innoviva by 641.2% during the 3rd quarter. Royce & Associates LP now owns 505,906 shares of the biotechnology company’s stock worth $9,233,000 after buying an additional 437,654 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Innoviva by 68.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,023,534 shares of the biotechnology company’s stock worth $18,679,000 after buying an additional 414,889 shares during the last quarter. 99.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on INVA shares. BTIG Research reaffirmed a “buy” rating and issued a $35.00 target price on shares of Innoviva in a research report on Thursday, February 26th. Weiss Ratings restated a “buy (b)” rating on shares of Innoviva in a research note on Monday, December 29th. Finally, HC Wainwright boosted their price target on Innoviva from $45.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Innoviva presently has an average rating of “Moderate Buy” and an average target price of $34.80.

Innoviva Stock Performance

Shares of INVA opened at $22.66 on Friday. The firm has a 50-day moving average of $21.82 and a 200-day moving average of $20.33. Innoviva, Inc. has a one year low of $16.52 and a one year high of $25.15. The company has a market cap of $1.68 billion, a PE ratio of 7.43 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.

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

Innoviva 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.