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Innoviva (INVA)
NASDAQ:INVA
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Innoviva (INVA) AI Stock Analysis

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INVA

Innoviva

(NASDAQ:INVA)

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Outperform 73 (OpenAI - 5.2)
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)

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
Strong profitability and cash generation: TTM net income of $357.2M on $443.4M revenue with very high margins, plus TTM operating cash flow of $226.8M and free cash flow of $223.1M (~98% of net income) indicating high earnings quality. Balance sheet has de-risked with debt down materially and equity up, though results show historical volatility (notably 2024 margin drop) and a TTM leverage-ratio inconsistency adds some data-quality uncertainty.
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
83
Very Positive
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue443.43M425.13M358.71M310.46M331.34M391.87M
Gross Profit324.08M307.52M322.11M267.82M317.55M391.87M
EBITDA823.34M383.79M85.50M235.04M308.32M478.18M
Net Income357.24M271.17M23.39M179.72M213.92M265.85M
Balance Sheet
Total Assets1.70B1.64B1.30B1.24B1.23B926.39M
Cash, Cash Equivalents and Short-Term Investments579.06M550.94M412.50M193.51M291.05M201.53M
Total Debt269.66M269.02M451.10M449.08M544.07M394.76M
Total Liabilities469.46M462.32M609.90M568.55M665.71M400.46M
Stockholders Equity1.23B1.17B691.16M674.96M565.79M414.74M
Cash Flow
Free Cash Flow223.11M186.43M188.42M140.65M201.66M362.51M
Operating Cash Flow226.78M196.93M188.69M141.06M201.73M363.81M
Investing Cash Flow60.80M40.50M-63.79M-66.76M-56.63M43.72M
Financing Cash Flow-62.58M8.55M-13.45M-171.84M-55.57M-452.50M

Innoviva Technical Analysis

Technical Analysis Sentiment
Negative
Last Price21.44
Price Trends
50DMA
22.08
Negative
100DMA
22.50
Negative
200DMA
21.58
Negative
Market Momentum
MACD
-0.40
Positive
RSI
35.05
Neutral
STOCH
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

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
73
Outperform
$1.55B2.9947.59%13.25%
66
Neutral
$1.39B114.12735.00%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
Performance Comparison
Ticker
Company Name
Price
Change
% Change
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.Date of analysis: Aug 06, 2026