Innoviva Inc (INVA)
NASDAQ:INVA
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Innoviva
(NASDAQ:INVA)
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Rating:76Outperform
Price Target:
$26.00
▲(7.26% Upside)
Action:ReiteratedDate:05/05/26
The score is driven primarily by strong financial performance (high margins and a debt-free 2025 balance sheet) and a very low P/E valuation. Offsetting factors are mixed technical signals and notable year-to-year volatility in profitability and free cash flow.
Positive Factors
Debt-free balance sheet
Reporting zero total debt in 2025 materially reduces financial leverage and interest burden, increasing survivability and optionality. This durable strength improves capacity for opportunistic asset purchases, shareholder returns, or weathering partner revenue variability over the next 2–6 months.
Negative Factors
Revenue concentration on GSK royalties
Heavy dependency on GSK-launched respiratory products creates structural concentration risk: Innoviva's cash flows and growth track GSK product performance and lifecycle. Over a 2–6 month horizon, adverse GSK sales, formulary shifts, or partner contract changes could materially affect revenues.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
Reporting zero total debt in 2025 materially reduces financial leverage and interest burden, increasing survivability and optionality. This durable strength improves capacity for opportunistic asset purchases, shareholder returns, or weathering partner revenue variability over the next 2–6 months.
Read all positive factors
Innoviva (INVA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.67B
Dividend YieldN/A
Average Volume (3M)717.80K
Price to Earnings (P/E)2.3
Beta (1Y)0.22
Revenue Growth14.12%
EPS Growth924.98%
CountryUS
Employees127
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)3.76
Shares Outstanding74,073,650
10 Day Avg. Volume623,458
30 Day Avg. Volume717,804
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.15
Price to Sales (P/S)3.17
P/FCF Ratio6.88
Enterprise Value/Market Cap0.66
Enterprise Value/Revenue2.66
Enterprise Value/Gross Profit3.37
Enterprise Value/Ebitda2.96
Forecast
1Y Price Target
$34.60Price Target Upside42.74% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)1.91
Revenue Forecast (FY)$439.36M
Innoviva Business Overview & Revenue Model
Company Description
Innoviva, Inc. engages in the development and commercialization of pharmaceuticals in the United States and internationally. Its products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a LABA, vilanterol (VI), an inha...
How the Company Makes Money
Innoviva’s primary source of earnings has historically been royalty and related income generated from sales of certain respiratory products commercialized by GlaxoSmithKline (GSK), under collaboration and/or license arrangements in which Innoviva ...
Innoviva Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
76
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 425.13M | 358.71M | 310.46M | 331.34M | 391.87M |
| Gross Profit | 307.52M | 322.11M | 267.82M | 317.55M | 391.87M |
| EBITDA | 383.79M | 85.50M | 235.04M | 308.32M | 464.35M |
| Net Income | 271.17M | 23.39M | 179.72M | 213.92M | 265.85M |
Balance Sheet | |||||
| Total Assets | 1.64B | 1.30B | 1.24B | 1.23B | 926.39M |
| Cash, Cash Equivalents and Short-Term Investments | 550.94M | 412.50M | 193.51M | 291.05M | 201.53M |
| Total Debt | 269.02M | 451.10M | 449.08M | 544.07M | 394.76M |
| Total Liabilities | 462.32M | 609.90M | 568.55M | 665.71M | 400.46M |
| Stockholders Equity | 1.17B | 691.16M | 674.96M | 565.79M | 414.74M |
Cash Flow | |||||
| Free Cash Flow | 195.80M | 188.42M | 140.65M | 201.66M | 362.51M |
| Operating Cash Flow | 196.93M | 188.69M | 141.06M | 201.73M | 363.81M |
| Investing Cash Flow | 40.50M | -63.79M | -66.76M | -56.63M | 43.72M |
| Financing Cash Flow | 8.55M | -13.45M | -171.84M | -55.57M | -452.50M |
Innoviva Technical Analysis
Positive
24.24
Price Trends
22.84
Positive
21.53
Positive
20.38
Positive
Market Momentum
0.46
Negative
63.52
Neutral
69.03
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INVA, the sentiment is Positive. The current price of 24.24 is above the 20-day moving average (MA) of 23.19, above the 50-day MA of 22.84, and above the 200-day MA of 20.38, indicating a bullish trend. The MACD of 0.46 indicates Negative momentum. The RSI at 63.52 is Neutral, neither overbought nor oversold. The STOCH value of 69.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | $1.67B | 2.32 | 30.60% | ― | 14.12% | 924.98% | |
63 Neutral | $1.77B | -10.55 | -28.85% | ― | ― | -33.82% | |
56 Neutral | $1.10B | 29.39 | -5.33% | ― | 43.72% | 99.47% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $303.51M | -3.46 | -37.47% | ― | ― | 41.19% |
* Healthcare Sector Average
INVA
Innoviva
22.52
3.78
20.17%
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6.37
1.89
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RAPP
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262.62%
Innoviva Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Innoviva Shareholders Back Directors, Pay Plan and Incentives
Positive
May 4, 2026
At its Annual Meeting of Stockholders held on May 4, 2026, Innoviva stockholders elected five directors—Derek Small, Mark A. DiPaolo, Jules Haimovitz, Sarah J. Schlesinger and Pavel Raifeld—to one-year terms expiring at the 2027 annual...
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.