Dimensional Fund Advisors LP Has $76.83 Million Position in Innoviva, Inc. (NASDAQ:INVA)

Dimensional Fund Advisors LP raised its stake in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,684,594 shares of the biotechnology company's stock after acquiring an additional 71,336 shares during the quarter. Dimensional Fund Advisors LP owned approximately 7.50% of Innoviva worth $76,826,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in INVA. American Century Companies Inc. raised its holdings in Innoviva by 369.6% in the 2nd quarter. American Century Companies Inc. now owns 459,690 shares of the biotechnology company's stock valued at $7,539,000 after buying an additional 361,797 shares during the last quarter. Boston Partners raised its holdings in Innoviva by 90.3% in the 1st quarter. Boston Partners now owns 391,456 shares of the biotechnology company's stock valued at $5,966,000 after buying an additional 185,784 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Innoviva by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 323,991 shares of the biotechnology company's stock valued at $4,938,000 after buying an additional 1,121 shares during the last quarter. Hillsdale Investment Management Inc. raised its holdings in Innoviva by 8.6% in the 1st quarter. Hillsdale Investment Management Inc. now owns 315,600 shares of the biotechnology company's stock valued at $4,810,000 after buying an additional 24,900 shares during the last quarter. Finally, CWA Asset Management Group LLC bought a new position in Innoviva in the 4th quarter valued at approximately $4,070,000. Institutional investors own 99.12% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on INVA shares. Cantor Fitzgerald reiterated an "overweight" rating on shares of Innoviva in a report on Tuesday, July 30th. StockNews.com downgraded shares of Innoviva from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, August 6th.

Innoviva Trading Up 2.0 %

NASDAQ:INVA traded up $0.38 on Friday, reaching $19.32. 615,235 shares of the stock traded hands, compared to its average volume of 586,484. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 8.70 and a beta of 0.57. The company's 50 day moving average is $18.90 and its 200-day moving average is $16.77. The company has a current ratio of 12.70, a quick ratio of 11.40 and a debt-to-equity ratio of 0.67. Innoviva, Inc. has a 1-year low of $12.22 and a 1-year high of $20.19.

Innoviva (NASDAQ:INVA - Get Free Report) last released its earnings results on Wednesday, July 31st. The biotechnology company reported $0.68 earnings per share for the quarter. The business had revenue of $99.90 million during the quarter. Innoviva had a net margin of 44.00% and a return on equity of 33.26%. Equities research analysts anticipate that Innoviva, Inc. will post 0.5 EPS for the current fiscal year.

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.