Sarissa Capital Management Lp adds Innoviva Inc (INVA) to its portfolio

Innoviva Inc (INVA) : Sarissa Capital Management Lp added new position in Innoviva Inc during the most recent quarter end. The investment management firm now holds 1,000,000 shares of Innoviva Inc which is valued at $11,170,000 , the company said in a statement filed on Nov 14, 2016 with the SEC.Innoviva Inc makes up approximately 2.63% of Sarissa Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Allianz Asset Management Ag added INVA to its portfolio by purchasing 156,492 company shares during the most recent quarter which is valued at $1,748,016.Advisor Group boosted its stake in INVA in the latest quarter, The investment management firm added 1,000 additional shares and now holds a total of 1,200 shares of Innoviva Inc which is valued at $12,912.New York State Common Retirement Fund reduced its stake in INVA by selling 5,665 shares or 1.27% in the most recent quarter. The Hedge Fund company now holds 441,270 shares of INVA which is valued at $4,337,684. Innoviva Inc makes up approx 0.01% of New York State Common Retirement Fund’s portfolio.Aperio Group boosted its stake in INVA in the latest quarter, The investment management firm added 169 additional shares and now holds a total of 11,836 shares of Innoviva Inc which is valued at $117,058.

On the company’s financial health, Innoviva Inc reported $0.17 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Oct 27, 2016. Analyst had a consensus of $0.20. The company had revenue of $33.30 million for the quarter, compared to analysts expectations of $39.86 million. The company’s revenue was up 145.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.04 EPS.

Innoviva Inc. formerly Theravance Inc. is an asset management company that is focused on the development commercialization and financial management of bio-pharmaceuticals. The Company is focused on managing its respiratory assets partnered with Glaxo Group Limited (GSK) including RELVAR/BREO ELLIPTA (fluticasone furoate/ vilanterol FF/VI) and ANORO ELLIPTA (umeclidinium bromide/ vilanterol UMEC/VI) with the intention of providing capital returns to stockholders. Its RELVAR/BREO is a once-a-day combination inhaled respiratory medicine consisting of vilanterol (VI) a long-acting beta2 agonist (LABA) and fluticasone furoate (FF) an inhaled corticosteroid (FF/VI) delivered through the ELLIPTA dry powder inhaler. Its ANORO ELLIPTA is a dual bronchodilator consisting of umeclidinium (UMEC) a long-acting muscarinic antagonist (LAMA) and vilanterol (VI) which is used for the treatment of chronic obstructive pulmonary diseases (COPD).

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