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Innoviva
(NASDAQ:INVA)
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Rating:73Outperform
Price Target:
$23.00
▲(7.28% Upside)
Action:Reiterated
Date:08/06/26
The score is driven by strong financial performance (high profitability, strong free-cash-flow conversion, and reduced leverage) and a very cheap valuation (low P/E). These positives are partially offset by weak technicals, with the stock trading below major moving averages and showing negative momentum.
Positive Factors
High cash generation
Consistently strong operating and free cash flow indicate durable earnings quality and internal funding for R&D, acquisitions, or dividends. High cash conversion limits reliance on external financing and supports strategic flexibility over the next 2–6 months and beyond.
Negative Factors
Earnings volatility
Large swings in margins suggest earnings are influenced by non‑recurring items or timing of investment gains, making forward cash flows less predictable. This undermines near‑term planning for capital allocation and could affect sustained payout or reinvestment policies.
Read all positive and negative factors
Positive Factors
Negative Factors
High cash generation
Consistently strong operating and free cash flow indicate durable earnings quality and internal funding for R&D, acquisitions, or dividends. High cash conversion limits reliance on external financing and supports strategic flexibility over the next 2–6 months and beyond.
Read all positive factors
Innoviva (INVA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.55B
Dividend YieldN/A
Average Volume (3M)833.51K
Price to Earnings (P/E)3.0
Beta (1Y)0.16
Revenue Growth13.25%
EPS GrowthN/A
CountryUS
Employees159
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)4.87
Shares Outstanding73,808,750
10 Day Avg. Volume689,867
30 Day Avg. Volume833,514
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.15
Price to Sales (P/S)3.17
P/FCF Ratio7.23
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$44.00Price Target Upside105.22% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)3.57
Revenue Forecast (FY)$440.56M
Innoviva Business Overview & Revenue Model
Company Description
Innoviva, Inc. functions as a pharmaceutical company, concentrating on the worldwide creation and marketing of medical treatments. Its current product lineup prominently includes several once-daily combination therapies: RELVAR/BREO ELLIPTA, which...
How the Company Makes Money
Innoviva makes money primarily through (1) royalty and royalty-like income tied to the net sales of partnered pharmaceutical products, and (2) income/returns associated with its portfolio of healthcare assets and investments.
1) Royalties and par...
Innoviva Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
83
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 443.43M | 425.13M | 358.71M | 310.46M | 331.34M | 391.87M |
| Gross Profit | 324.08M | 307.52M | 322.11M | 267.82M | 317.55M | 391.87M |
| EBITDA | 823.34M | 383.79M | 85.50M | 235.04M | 308.32M | 478.18M |
| Net Income | 357.24M | 271.17M | 23.39M | 179.72M | 213.92M | 265.85M |
Balance Sheet | ||||||
| Total Assets | 1.70B | 1.64B | 1.30B | 1.24B | 1.23B | 926.39M |
| Cash, Cash Equivalents and Short-Term Investments | 579.06M | 550.94M | 412.50M | 193.51M | 291.05M | 201.53M |
| Total Debt | 269.66M | 269.02M | 451.10M | 449.08M | 544.07M | 394.76M |
| Total Liabilities | 469.46M | 462.32M | 609.90M | 568.55M | 665.71M | 400.46M |
| Stockholders Equity | 1.23B | 1.17B | 691.16M | 674.96M | 565.79M | 414.74M |
Cash Flow | ||||||
| Free Cash Flow | 223.11M | 186.43M | 188.42M | 140.65M | 201.66M | 362.51M |
| Operating Cash Flow | 226.78M | 196.93M | 188.69M | 141.06M | 201.73M | 363.81M |
| Investing Cash Flow | 60.80M | 40.50M | -63.79M | -66.76M | -56.63M | 43.72M |
| Financing Cash Flow | -62.58M | 8.55M | -13.45M | -171.84M | -55.57M | -452.50M |
Innoviva Technical Analysis
Negative
21.44
Price Trends
22.08
Negative
22.50
Negative
21.58
Negative
Market Momentum
-0.40
Positive
35.05
Neutral
12.93
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INVA, the sentiment is Negative. The current price of 21.44 is below the 20-day moving average (MA) of 21.51, below the 50-day MA of 22.08, and below the 200-day MA of 21.58, indicating a bearish trend. The MACD of -0.40 indicates Positive momentum. The RSI at 35.05 is Neutral, neither overbought nor oversold. The STOCH value of 12.93 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for INVA.
Innoviva Risk Analysis
Innoviva disclosed 72 risk factors in its most recent earnings report. Innoviva reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Innoviva Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $1.55B | 2.99 | 47.59% | ― | 13.25% | ― | |
66 Neutral | $1.39B | 114.12 | 735.00% | ― | 41.47% | ― | |
53 Neutral | $1.96B | -15.76 | -24.79% | ― | ― | -18.14% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
45 Neutral | $166.18M | -1.47 | -46.82% | ― | ― | -103.37% |
* Healthcare Sector Average
INVA
Innoviva
20.51
2.05
11.11%
XERS
Xeris Pharmaceuticals
8.11
1.51
22.88%
LENZ
LENZ Therapeutics
5.27
-26.85
-83.59%
RAPP
Rapport Therapeutics, Inc.
42.44
27.03
175.41%
Innoviva Corporate Events
Business Operations and StrategyExecutive/Board Changes
Innoviva Appoints Josephine Linden to Strengthen Board Oversight
Positive
May 18, 2026
On May 12, 2026, Innoviva directors Derek Small and Mark DiPaolo resigned from the board to concentrate on expanding Syndeio BioSciences, where Small is chief executive and DiPaolo is set to take an executive role, with Innoviva signaling ongoing ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.