Iridian Asset Management LLC CT bought a new stake in Innoviva Inc (NASDAQ:INVA) during the 1st quarter, HoldingsChannel reports. The firm bought 42,700 shares of the biotechnology company’s stock, valued at approximately $599,000.

Several other institutional investors have also recently bought and sold shares of INVA. Oregon Public Employees Retirement Fund acquired a new stake in Innoviva during the fourth quarter worth approximately $26,000. Quadrant Capital Group LLC acquired a new stake in Innoviva during the first quarter worth approximately $27,000. Financial Gravity Companies Inc. acquired a new stake in Innoviva during the fourth quarter worth approximately $40,000. Fort L.P. acquired a new stake in Innoviva during the fourth quarter worth approximately $90,000. Finally, Meeder Asset Management Inc. acquired a new stake in Innoviva during the first quarter worth approximately $160,000. 79.21% of the stock is currently owned by institutional investors.

Shares of NASDAQ:INVA opened at $14.55 on Wednesday. The company has a market cap of $1.44 billion, a P/E ratio of 4.12 and a beta of 1.82. Innoviva Inc has a 1 year low of $13.07 and a 1 year high of $20.54. The company has a debt-to-equity ratio of 1.93, a quick ratio of 66.02 and a current ratio of 66.01.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.05). Innoviva had a return on equity of 1,674.72% and a net margin of 151.35%. The company had revenue of $55.18 million for the quarter. On average, analysts anticipate that Innoviva Inc will post 1.46 EPS for the current fiscal year.

In other Innoviva news, Director George Bickerstaff bought 10,000 shares of the business’s stock in a transaction on Thursday, February 21st. The stock was purchased at an average cost of $14.90 per share, for a total transaction of $149,000.00. Following the completion of the purchase, the director now directly owns 38,762 shares of the company’s stock, valued at $577,553.80. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Marianne Zhen sold 5,617 shares of the company’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $16.00, for a total value of $89,872.00. The disclosure for this sale can be found here. Insiders have acquired 32,000 shares of company stock valued at $491,100 over the last 90 days. Corporate insiders own 0.18% of the company’s stock.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research raised Innoviva from a “hold” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a research report on Wednesday, April 17th. BidaskClub raised Innoviva from a “sell” rating to a “hold” rating in a research report on Friday, April 5th. Finally, ValuEngine raised Innoviva from a “sell” rating to a “hold” rating in a research report on Monday, February 25th.

ILLEGAL ACTIVITY NOTICE: This story was reported by Marea Informative and is the property of of Marea Informative. If you are reading this story on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this story can be read at https://www.mareainformativa.com/news/2019/05/15/iridian-asset-management-llc-ct-invests-599000-in-innoviva-inc-inva.html.

Innoviva Profile

Innoviva, Inc engages in the development and commercialization of pharmaceuticals. The company has long-acting beta2 agonist (LABA) collaboration agreement with Glaxo Group Limited to develop and commercialize once-daily products for the treatment of chronic obstructive pulmonary disease and asthma. Its products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a long-acting beta2 agonist (LABA), vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate (FF); ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA), umeclidinium bromide (UMEC), with a LABA, and VI; and TRELEGY ELLIPTA, a once-daily combination medicine consisting of an ICS, LAMA and LABA.

Recommended Story: Diversification Important in Investing

Want to see what other hedge funds are holding INVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Innoviva Inc (NASDAQ:INVA).

Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

Receive News & Ratings for Innoviva Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innoviva and related companies with MarketBeat.com's FREE daily email newsletter.