Allspring Global Investments Holdings LLC Has $1.70 Million Stock Position in Innoviva, Inc. (NASDAQ:INVA)

Allspring Global Investments Holdings LLC raised its position in shares of Innoviva, Inc. (NASDAQ:INVA) by 16.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,659 shares of the biotechnology company’s stock after purchasing an additional 15,595 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.18% of Innoviva worth $1,702,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in INVA. Pacer Advisors Inc. raised its position in Innoviva by 119,140.3% during the fourth quarter. Pacer Advisors Inc. now owns 1,728,984 shares of the biotechnology company’s stock valued at $27,733,000 after purchasing an additional 1,727,534 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of Innoviva by 27.8% during the fourth quarter. Westfield Capital Management Co. LP now owns 2,614,127 shares of the biotechnology company’s stock worth $41,931,000 after buying an additional 569,117 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Innoviva during the fourth quarter worth $4,663,000. CWA Asset Management Group LLC acquired a new position in shares of Innoviva during the fourth quarter worth $4,070,000. Finally, Invesco Ltd. increased its holdings in shares of Innoviva by 55.2% during the third quarter. Invesco Ltd. now owns 661,978 shares of the biotechnology company’s stock worth $8,599,000 after buying an additional 235,330 shares in the last quarter. 99.12% of the stock is currently owned by institutional investors and hedge funds.

Innoviva Stock Performance

Shares of Innoviva stock opened at $16.33 on Thursday. The company has a quick ratio of 9.17, a current ratio of 10.42 and a debt-to-equity ratio of 0.63. Innoviva, Inc. has a twelve month low of $12.22 and a twelve month high of $16.86. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 7.36 and a beta of 0.57. The company’s fifty day moving average is $15.86 and its 200 day moving average is $15.67.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Innoviva in a report on Tuesday, June 18th. They set an “overweight” rating for the company. StockNews.com upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a report on Friday, March 29th.

About Innoviva

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.