BlackRock Fund Advisors recently announced the acquisition of new stake in Innoviva Inc. (NASDAQ:INVA). The institutional investor has increased its shareholding in the Healthcare company by 3.67% to 10.65 million shares with purchase of 0.38 million shares. This fresh investment now brings its stake to 10.51% valued currently at $144.29 million. In addition, Renaissance Technologies LLC raised its holdings by 0.33 million to 8.53 million shares. And The Vanguard Group, Inc. has lifted its position by 0.22% or 14210.0 shares – to 6.61 million shares.
With over 1.7 million Innoviva Inc. (INVA) shares trading Tuesday and a closing price of $11.95 on the day, the dollar volume was approximately $20.32 million. The shares have shown a negative weekly performance of -11.35% and its price on 08/25/20 lost nearly -2.61%. Currently, there are 101.32M common shares owned by the public and among those 68.98M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for INVA have a consensus price objective of $8.00. The analysts have set the share’s price value over the next 12 months at a high of $8.00 and a low of $8.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Innoviva Inc. stock is 4.00 for the next 12 months. The average price target is -49.37% below its last price level and a downside to the estimated low will see the stock lose -49.37% over that period. But an upside of -49.37% will see the stock hit the forecast high price target while mean target price for the stock is $8.00.
Insiders at the company have transacted a total of 15 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 8 of these insider trades were purchases, accounting for 112,060 shares. Insider sales of the common stock occurred on 7 occasions, with total insider shares sold totaling 9,180 shares.
The top 3 mutual fund holders in Innoviva Inc. are iShares Core S&P Small Cap ETF, First Eagle Fund of America, and Vanguard Total Stock Market Index. iShares Core S&P Small Cap ETF owns 4.16 million shares of the company’s stock, all valued at over $56.38 million. The company bought an additional 14868.0 shares recently to bring their total holdings to about 4.11% of the shares outstanding. First Eagle Fund of America bought 0.31 million shares to see its total holdings expand to 1.98 million shares valued at over $26.81 million and representing 1.95% of the shares outstanding. Vanguard Total Stock Market Index sold 37625.0 shares to bring its total holdings to over 1.69 million shares at a value of $22.95 million. Vanguard Total Stock Market Index now owns shares totaling to 1.67% of the shares outstanding.
Shares of Innoviva Inc. (NASDAQ: INVA) opened at $12.25, down -$0.02 from a prior closing price of $12.27. However, the script later closed the day at $11.95, down -2.61%. The company’s stock has a 5-day price change of -11.35% and -18.15% over the past three months. INVA shares are trading -15.61% year to date (YTD), with the 12-month market performance up to 7.46% higher. It has a 12-month low price of $7.58 and touched a high of $15.62 over the same period. Currently, 1.7 million shares have been traded, compared to an average intraday trading volume of 690.61K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -11.36%, -13.12%, and -10.97% respectively.
Institutional ownership of Innoviva Inc. (NASDAQ: INVA) shares accounts for 76.80% of the company’s 101.32M shares outstanding. Mutual fund holders own 33.74%, while other institutional holders and individual stakeholders account for 41.68% and 3.07% respectively.
It has a market capitalization of $1.26B and a beta (3y monthly) value of 1.00. The stock’s trailing 12-month PE ratio is 5.89, while the earnings-per-share (ttm) stands at $2.03. The company has a PEG of 0.30 and a Quick Ratio of 92.40 with the debt-to-equity ratio at 0.83. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.89% over the week and 3.04% over the month.
Analysts forecast that Innoviva Inc. (INVA) will achieve an EPS of $Innoviva, Inc. for the current quarter, $11.95 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Invitation Homes Inc. while analysts give the company a high EPS estimate of $Ishares MSCI India ETF. Comparatively, EPS for the current quarter was $Enova International, Inc. a year ago. Earnings per share for the fiscal year are expected to decrease by -60.20%, and -30.83% over the next financial year. EPS should shrink at an annualized rate of 19.34% over the next five years, compared to 32.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Innoviva Inc. (INVA) as a “Moderate Sell” at a consensus score of 4.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the INVA, a number of firms have released research notes about the stock. Deutsche Bank stated their Hold rating for the stock in a research note on November 20, 2017, with the firm’s price target at $13.