Innoviva (INVA)
NASDAQ:INVA
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Innoviva
(NASDAQ:INVA)
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Rating:74Outperform
Price Target:
$24.50
▲(1.07% Upside)
Action:Reiterated
Date:05/19/26
The score is driven primarily by strong financial performance (high profitability, improved leverage, consistently positive cash flow) and very attractive valuation (very low P/E). These positives are tempered by weak near-term technical signals (negative MACD, low RSI, and price below key short-term moving averages), suggesting downside momentum despite solid fundamentals.
Positive Factors
Strong TTM Profitability
Very high trailing-twelve-month margins and a sharp earnings rebound indicate durable core earnings power from Innoviva’s asset-heavy model. High margins provide structural capacity to fund investments, buybacks or shareholder returns and absorb partner sales variability over months.
Negative Factors
Earnings and Cash Volatility
Wide year-to-year swings in profitability and choppy free cash flow growth undermine predictability of core cash returns. Volatility complicates forecasting for asset monetization and capital allocation, increasing reliance on management judgment across multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong TTM Profitability
Very high trailing-twelve-month margins and a sharp earnings rebound indicate durable core earnings power from Innoviva’s asset-heavy model. High margins provide structural capacity to fund investments, buybacks or shareholder returns and absorb partner sales variability over months.
Read all positive factors
Innoviva (INVA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.60B
Dividend YieldN/A
Average Volume (3M)754.14K
Price to Earnings (P/E)3.3
Beta (1Y)0.19
Revenue Growth13.25%
EPS GrowthN/A
CountryUS
Employees127
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)7.02
Shares Outstanding73,808,750
10 Day Avg. Volume1,053,561
30 Day Avg. Volume754,139
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 Cap0.82
Enterprise Value/Revenue3.09
Enterprise Value/Gross Profit4.05
Enterprise Value/Ebitda2.92
Forecast
1Y Price Target
$34.50Price Target Upside42.33% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)3.16
Revenue Forecast (FY)$440.43M
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
79
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 424.12M | 425.13M | 358.71M | 310.46M | 331.34M | 391.87M |
| Gross Profit | 323.16M | 307.52M | 322.11M | 267.82M | 317.55M | 391.87M |
| EBITDA | 448.95M | 383.79M | 85.50M | 235.04M | 308.32M | 464.35M |
| Net Income | 504.34M | 271.17M | 23.39M | 179.72M | 213.92M | 265.85M |
Balance Sheet | ||||||
| Total Assets | 1.84B | 1.64B | 1.30B | 1.24B | 1.23B | 926.39M |
| Cash, Cash Equivalents and Short-Term Investments | 611.93M | 550.94M | 412.50M | 193.51M | 291.05M | 201.53M |
| Total Debt | 331.42M | 269.02M | 451.10M | 449.08M | 544.07M | 394.76M |
| Total Liabilities | 494.93M | 462.32M | 609.90M | 568.55M | 665.71M | 400.46M |
| Stockholders Equity | 1.34B | 1.17B | 691.16M | 674.96M | 565.79M | 414.74M |
Cash Flow | ||||||
| Free Cash Flow | 180.85M | 195.80M | 188.42M | 140.65M | 201.66M | 362.51M |
| Operating Cash Flow | 183.59M | 196.93M | 188.69M | 141.06M | 201.73M | 363.81M |
| Investing Cash Flow | 112.18M | 40.50M | -63.79M | -66.76M | -56.63M | 43.72M |
| Financing Cash Flow | -11.78M | 8.55M | -13.45M | -171.84M | -55.57M | -452.50M |
Innoviva Technical Analysis
Positive
24.24
Price Trends
22.90
Negative
22.27
Negative
20.93
Positive
Market Momentum
-0.33
Positive
48.02
Neutral
29.04
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 22.21, above the 50-day MA of 22.90, and above the 200-day MA of 20.93, indicating a neutral trend. The MACD of -0.33 indicates Positive momentum. The RSI at 48.02 is Neutral, neither overbought nor oversold. The STOCH value of 29.04 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | $1.60B | 3.26 | 47.59% | ― | 13.25% | ― | |
67 Neutral | $1.02B | 87.33 | 735.00% | ― | 41.47% | ― | |
60 Neutral | $1.77B | -16.51 | -24.79% | ― | ― | -18.14% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | $219.79M | ― | -46.82% | ― | ― | -103.37% |
* Healthcare Sector Average
INVA
Innoviva
22.16
0.99
4.68%
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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 ...
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.