Symbols / INVA Stock $23.57 +0.38% Innoviva, Inc.

Healthcare • Biotechnology • United States • NMS
INVA (Stock) Chart
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Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Healthcare
Industry Biotechnology
CEO Mr. Pavel Raifeld C.F.A.
Exch · Country NMS · United States
Market Cap 1.75B
Enterprise Value 1.51B
Income 271.16M
Sales 411.33M
FCF (ttm) 122.07M
Book/sh 15.71
Cash/sh 7.65
Employees 159
Insider 10d
IPO Oct 05, 2004
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 0.00%
P/E 7.14
Forward P/E 10.67
PEG 0.35
P/S 4.24
P/B 1.50
P/C
EV/EBITDA 7.75
EV/Sales 3.67
Quick Ratio 13.28
Current Ratio 14.64
Debt/Eq 28.24
LT Debt/Eq
EPS (ttm) 3.30
EPS next Y 2.21
EPS Growth 5.90%
Revenue Growth 24.80%
EPS Gr Q/Q 7.07%
Rev Gr Q/Q
Earnings (next) 2026-05-06
Earnings (prior) 2026-02-25
ROA 7.18%
ROE 29.09%
ROIC
Gross Margin 74.94%
Oper. Margin 34.66%
Profit Margin 65.92%
Shs Outstand 74.05M
Shs Float 69.26M
Insider Own 0.67%
Instit Own 107.70%
Short Float 12.23%
Short Ratio 8.58
Short Interest 6.73M
52W High 25.15
vs 52W High -6.28%
52W Low 16.52
vs 52W Low 42.68%
Beta 0.40
Impl. Vol. 72.36%
Rel Volume 0.60
Avg Volume 764.44K
Volume 456.59K
Target (mean) $33.20
Tgt Median $35.00
Tgt Low $18.00
Tgt High $46.00
# Analysts 5
Recom None
Prev Close $23.48
Price $23.57
Change 0.38%
About

Innoviva, Inc. operates as a biopharmaceutical company in the United States and internationally. Its royalty portfolio includes RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a LABA, vilanterol, and an inhaled corticosteroid, and fluticasone furoate; ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist, umeclidinium bromide, and ABA, VI. The company also markets GIAPREZA for increasing blood pressure in adults with septic or other distributive shock; XACDURO, a co-packaged for intravenous use for the treatment of hospital-acquired and ventilator-associated bacterial pneumonia caused by Acinetobacter; XERAVA for the treatment of complicated intra-abdominal infections in adults; ZEVTERA an advanced-generation cephalosporin antibiotic for the treatment of staphylococcus aureus bacteremia, as well as with right-sided endocarditis, acute bacterial skin and skin structure infections, and community-acquired bacterial pneumonia; NUZOLVENCE for the treatment of uncomplicated urogenital gonorrhea in adults and adolescents. In addition, the company develops bacteriophages with potential use in a range of infectious and other serious diseases. It has a strategic partnership with Sarissa Capital Management LP; and LABA Collaboration Agreement with Glaxo Group Limited to develop and commercialize once-daily products for the treatment of chronic obstructive pulmonary disease and asthma. The company was formerly known as Theravance, Inc. and changed its name to Innoviva, Inc. in January 2016. Innoviva, Inc. was incorporated in 1996 and is headquartered in Burlingame, California.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus Mean price target
2. Current target Latest analyst target
3. DCF / Fair value Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$23.57
Low
$18.00
High
$46.00
Mean
$33.20

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-26 reit BTIG Buy → Buy $35
2026-02-17 init BTIG — → Buy $35
2025-12-16 main HC Wainwright & Co. Buy → Buy $46
2025-11-06 main Cantor Fitzgerald Overweight → Overweight $31
2025-09-30 init Goldman Sachs — → Sell $17
2025-08-11 init Oppenheimer — → Outperform $35
2025-08-11 main HC Wainwright & Co. Buy → Buy $45
2025-07-14 init HC Wainwright & Co. — → Buy $40
2025-07-11 init Cantor Fitzgerald — → Overweight $26
2025-03-07 init Scotiabank — → Sector Outperform $55
2024-08-01 reit Cantor Fitzgerald — → Overweight
2024-07-30 reit Cantor Fitzgerald — → Overweight
2024-06-20 reit Cantor Fitzgerald — → Overweight
2024-06-18 init Cantor Fitzgerald — → Overweight
2023-05-10 reit EF Hutton — → Buy $23
2023-04-20 reit EF Hutton — → Buy $23
2023-03-03 main Goldman Sachs — → Neutral $13
2023-03-03 main Morgan Stanley — → Underweight $10
2023-03-03 reit EF Hutton — → Buy $23
2023-01-24 main Morgan Stanley — → Underweight $13
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2025-11-14 BASSO STEPHEN Chief Financial Officer 604 $0.00 $0
2025-11-03 RAIFELD PAVEL Beneficial Owner of more than 10% of a Class of Security 112,296 $0.00 $1,999,996
2025-11-03 BASSO STEPHEN Chief Financial Officer 27,609 $18.11 $499,999
2025-05-19 HAIMOVITZ JULES Director 12,077 $0.00 $0
2025-05-19 DIPAOLO MARK A Director 12,077 $0.00 $0
2025-05-19 SCHLESINGER SARAH J Director 12,077 $0.00 $0
2025-05-19 SMALL DEREK A Director 12,077 $0.00 $0
2025-05-15 BASSO STEPHEN Chief Financial Officer 1,353 $0.00 $0
2025-03-14 RAIFELD PAVEL Beneficial Owner of more than 10% of a Class of Security 37,377 $17.39 $649,986
2025-03-06 DENNER ALEXANDER J Beneficial Owner of more than 10% of a Class of Security 1,618,295 $17.52 $28,395,442
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
411.33
+14.67%
358.71
+15.54%
310.46
-6.30%
331.34
Operating Revenue
411.33
+14.67%
358.71
+15.54%
310.46
-6.30%
331.34
Cost Of Revenue
77.38
+111.44%
36.60
-14.17%
42.64
+209.14%
13.79
Reconciled Cost Of Revenue
77.38
+111.44%
36.60
-14.17%
42.64
+209.14%
13.79
Gross Profit
333.94
+3.67%
322.11
+20.27%
267.82
-15.66%
317.55
Operating Expense
170.20
+9.63%
155.25
+0.85%
153.94
+39.25%
110.55
Research And Development
30.60
+124.14%
13.65
-59.75%
33.92
-18.13%
41.43
Selling General And Administration
113.32
-2.05%
115.69
+17.77%
98.23
+54.60%
63.54
General And Administrative Expense
63.54
Other Gand A
63.54
Total Expenses
247.58
+29.05%
191.84
-2.41%
196.58
+58.09%
124.34
Operating Income
163.75
-1.87%
166.87
+46.52%
113.89
-44.98%
207.00
Total Operating Income As Reported
163.75
-1.87%
166.87
+46.52%
113.89
+408.25%
-36.95
EBITDA
369.84
+332.56%
85.50
-63.62%
235.04
-23.77%
308.32
Normalized EBITDA
349.68
+141.72%
144.66
-35.39%
223.91
+316.01%
53.82
Reconciled Depreciation
26.28
+1.45%
25.90
+18.90%
21.78
+290.32%
5.58
EBIT
343.56
+476.47%
59.60
-72.05%
213.25
-29.56%
302.74
Total Unusual Items
20.16
+134.08%
-59.16
-631.59%
11.13
-95.63%
254.50
Total Unusual Items Excluding Goodwill
20.16
+134.08%
-59.16
-631.59%
11.13
-95.63%
254.50
Special Income Charges
0.00
0.00
-100.00%
246.03
Other Special Charges
20.66
Net Income
271.17
+1059.22%
23.39
-86.98%
179.72
-15.99%
213.92
Pretax Income
326.86
+774.24%
37.39
-80.74%
194.10
-32.36%
286.95
Net Non Operating Interest Income Expense
4.39
+243.02%
-3.07
+8.12%
-3.34
+64.55%
-9.42
Interest Expense Non Operating
16.70
-24.81%
22.21
+15.93%
19.16
+21.33%
15.79
Net Interest Income
4.39
+243.02%
-3.07
+8.12%
-3.34
+64.55%
-9.42
Interest Expense
16.70
-24.81%
22.21
+15.93%
19.16
+21.33%
15.79
Interest Income Non Operating
21.09
+10.16%
19.14
+21.01%
15.82
+148.36%
6.37
Interest Income
21.09
+10.16%
19.14
+21.01%
15.82
+148.36%
6.37
Other Income Expense
158.73
+225.57%
-126.41
-251.30%
83.55
-6.51%
89.37
Other Non Operating Income Expenses
-2.86
+4.44%
-3.00
+39.69%
-4.97
-47.32%
-3.37
Gain On Sale Of Security
20.16
+134.08%
-59.16
-631.59%
11.13
+31.52%
8.46
Gain On Sale Of Business
0.00
0.00
-100.00%
266.70
Tax Provision
55.70
+297.95%
14.00
-2.64%
14.38
-78.44%
66.69
Tax Rate For Calcs
0.00
-54.67%
0.00
+406.31%
0.00
-68.13%
0.00
Tax Effect Of Unusual Items
3.43
+115.45%
-22.19
-2791.50%
0.82
-98.61%
59.14
Net Income Including Noncontrolling Interests
271.17
+1059.22%
23.39
-86.98%
179.72
-18.41%
220.26
Net Income From Continuing Operation Net Minority Interest
271.17
+1059.22%
23.39
-86.98%
179.72
-15.99%
213.92
Net Income From Continuing And Discontinued Operation
271.17
+1059.22%
23.39
-86.98%
179.72
-15.99%
213.92
Net Income Continuous Operations
271.17
+1059.22%
23.39
-86.98%
179.72
-18.41%
220.26
Minority Interests
0.00
0.00
+100.00%
-6.34
Normalized Income
254.43
+321.47%
60.37
-64.37%
169.42
+812.32%
18.57
Net Income Common Stockholders
271.17
+1059.22%
23.39
-86.98%
179.72
-15.99%
213.92
Diluted EPS
3.30
+816.67%
0.36
-83.64%
2.20
-7.17%
2.37
Basic EPS
4.02
+986.49%
0.37
-86.55%
2.75
-10.42%
3.07
Basic Average Shares
67.39
+7.44%
62.73
-4.14%
65.44
-6.04%
69.64
Diluted Average Shares
84.76
+14.25%
74.19
-14.61%
86.88
-8.79%
95.25
Diluted NI Availto Com Stockholders
279.82
+941.78%
26.86
-85.96%
191.30
-15.19%
225.57
Average Dilution Earnings
8.66
+149.65%
3.47
-70.06%
11.58
-0.57%
11.65
Amortization
26.28
+1.45%
25.90
+18.90%
21.78
+290.32%
5.58
Amortization Of Intangibles Income Statement
26.28
+1.45%
25.90
+18.90%
21.78
+290.32%
5.58
Depreciation Amortization Depletion Income Statement
26.28
+1.45%
25.90
+18.90%
21.78
+290.32%
5.58
Depreciation And Amortization In Income Statement
26.28
+1.45%
25.90
+18.90%
21.78
+290.32%
5.58
Earnings From Equity Interest
141.43
+320.12%
-64.25
-183.02%
77.39
+147.85%
-161.75
Line Item Trend 2023-12-31 2022-12-31 2021-12-31
Total Assets
1,243.51
+0.98%
1,231.50
Current Assets
344.22
-22.39%
443.51
Cash Cash Equivalents And Short Term Investments
193.51
-33.51%
291.05
Cash And Cash Equivalents
193.51
-33.51%
291.05
Other Short Term Investments
0.00
Receivables
84.08
+31.22%
64.07
Accounts Receivable
14.45
+53.75%
9.40
Other Receivables
69.62
+27.34%
54.67
Inventory
40.74
-27.12%
55.90
Raw Materials
11.26
+95.54%
5.76
Work In Process
15.67
-37.45%
25.05
Finished Goods
13.81
-44.95%
25.09
Prepaid Assets
21.63
-26.82%
29.56
Other Current Assets
4.26
+45.38%
2.93
Total Non Current Assets
899.29
+14.12%
787.99
Net PPE
3.02
-12.11%
3.44
Gross PPE
3.02
-12.11%
3.44
Accumulated Depreciation
-11.10
-8.59%
-10.22
Properties
0.00
0.00
Machinery Furniture Equipment
1.27
-0.16%
1.27
Other Properties
3.02
-12.11%
3.44
Leases
3.45
+0.70%
3.42
Goodwill And Other Intangible Assets
248.24
-11.23%
279.63
Goodwill
17.91
-32.97%
26.71
Other Intangible Assets
230.34
-8.93%
252.92
Investments And Advances
560.98
+39.20%
403.01
Long Term Equity Investment
560.98
+39.20%
403.01
Non Current Accounts Receivable
83.78
-14.16%
97.61
Non Current Deferred Assets
0.00
0.00
Non Current Deferred Taxes Assets
0.00
0.00
Other Non Current Assets
3.27
-24.01%
4.30
Total Liabilities Net Minority Interest
568.55
-14.59%
665.71
Current Liabilities
38.13
-71.75%
134.97
Payables And Accrued Expenses
35.65
+8.93%
32.73
Payables
8.64
+179.50%
3.09
Accounts Payable
6.72
+128.55%
2.94
Other Payable
1.93
Current Accrued Expenses
27.00
-8.87%
29.63
Pensionand Other Post Retirement Benefit Plans Current
1.83
+76.62%
1.03
Total Tax Payable
0.00
-100.00%
0.15
Income Tax Payable
0.00
-100.00%
0.15
Current Debt And Capital Lease Obligation
1.21
-98.76%
97.51
Current Debt
96.19
Other Current Borrowings
96.19
Current Capital Lease Obligation
1.21
-8.28%
1.32
Current Deferred Liabilities
1.28
-73.02%
4.73
Current Deferred Revenue
1.28
-39.02%
2.09
Other Current Liabilities
2.64
Total Non Current Liabilities Net Minority Interest
530.42
-0.06%
530.74
Long Term Debt And Capital Lease Obligation
447.87
+0.29%
446.56
Long Term Debt
446.23
+0.46%
444.18
Long Term Capital Lease Obligation
1.64
-31.19%
2.38
Tradeand Other Payables Non Current
11.75
+19.03%
9.87
Non Current Deferred Liabilities
70.44
-4.45%
73.72
Non Current Deferred Taxes Liabilities
0.56
-90.24%
5.77
Other Non Current Liabilities
0.36
-39.66%
0.59
Stockholders Equity
674.96
+19.29%
565.79
Common Stock Equity
674.96
+19.29%
565.79
Capital Stock
0.63
-8.53%
0.69
Common Stock
0.63
-8.53%
0.69
Preferred Stock
0.00
0.00
Share Issued
95.31
-5.81%
101.19
Ordinary Shares Number
63.31
-8.50%
69.19
Treasury Shares Number
32.01
+0.00%
32.01
+0.00%
32.01
Additional Paid In Capital
1,093.34
-6.06%
1,163.84
Retained Earnings
-25.19
+87.71%
-204.91
Treasury Stock
393.83
+0.00%
393.83
+0.00%
393.83
Minority Interest
0.00
0.00
-100.00%
111.19
Total Equity Gross Minority Interest
674.96
+19.29%
565.79
Total Capitalization
1,121.19
+11.01%
1,009.97
Working Capital
306.08
-0.80%
308.54
Invested Capital
1,121.19
+1.36%
1,106.16
Total Debt
449.08
-17.46%
544.07
Net Debt
252.72
+1.36%
249.32
+29.10%
193.13
Capital Lease Obligations
2.84
-23.02%
3.69
Net Tangible Assets
426.71
+49.12%
286.16
Tangible Book Value
426.71
+49.12%
286.16
Available For Sale Securities
403.01
-16.71%
483.85
Duefrom Related Parties Non Current
83.78
-14.16%
97.61
Interest Payable
3.42
-21.50%
4.36
Investmentin Financial Assets
403.01
-16.71%
483.85
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
196.93
+4.37%
188.69
+33.76%
141.06
-30.07%
201.73
Cash Flow From Continuing Operating Activities
196.93
+4.37%
188.69
+33.76%
141.06
-30.07%
201.73
Net Income From Continuing Operations
271.17
+1059.22%
23.39
-86.98%
179.72
-18.41%
220.26
Depreciation Amortization Depletion
26.28
+1.45%
25.90
+18.90%
21.78
+290.32%
5.58
Depreciation
0.89
Amortization Cash Flow
26.28
+1.45%
25.90
+18.90%
21.78
+290.32%
5.58
Depreciation And Amortization
26.28
+1.45%
25.90
+18.90%
21.78
+290.32%
5.58
Amortization Of Intangibles
26.28
+1.45%
25.90
+18.90%
21.78
+290.32%
5.58
Other Non Cash Items
22.58
-22.58%
29.16
-31.60%
42.63
+44.96%
29.41
Stock Based Compensation
9.45
+48.29%
6.37
+9.20%
5.84
-20.55%
7.35
Asset Impairment Charge
Deferred Tax
43.85
+447.52%
-12.62
-386.75%
4.40
-82.40%
25.01
Deferred Income Tax
43.85
+447.52%
-12.62
-386.75%
4.40
-82.40%
25.01
Operating Gains Losses
9.37
-77.39
+68.54%
-246.03
Unrealized Gain Loss On Investment Securities
-161.59
-230.94%
123.41
+239.42%
-88.52
-157.75%
153.29
Gain Loss On Sale Of PPE
9.37
0.00
0.00
Change In Working Capital
-24.16
-248.46%
-6.93
+72.03%
-24.79
-461.07%
6.87
Change In Receivables
-6.95
-203.40%
-2.29
+88.55%
-20.00
-304.23%
9.79
Changes In Account Receivables
-14.57
-145.44%
-5.94
-17.51%
-5.05
-43.35%
-3.52
Change In Inventory
-12.92
-89.76%
-6.81
+43.29%
-12.00
-4387.14%
0.28
Change In Prepaid Assets
-5.66
-1097.88%
0.57
-92.85%
7.93
+137.14%
-21.35
Change In Payables And Accrued Expense
-0.70
-101.75%
39.94
+1201.66%
3.07
-86.20%
22.24
Change In Accrued Expense
-7.59
-349.47%
3.04
+225.01%
-2.44
-120.09%
12.12
Change In Payable
6.89
-81.31%
36.89
+570.38%
5.50
-45.61%
10.12
Change In Account Payable
2.83
+161.81%
-4.58
-221.36%
3.78
+4006.52%
0.09
Change In Other Working Capital
3.14
+2182.12%
-0.15
+81.52%
-0.82
-8.21%
-0.76
Change In Other Current Assets
-1.08
+97.18%
-38.19
-1187.89%
-2.96
+11.25%
-3.34
Change In Other Current Liabilities
Investing Cash Flow
40.50
+163.49%
-63.79
+4.46%
-66.76
-17.88%
-56.63
Cash Flow From Continuing Investing Activities
40.50
+163.49%
-63.79
+4.46%
-66.76
-17.88%
-56.63
Net PPE Purchase And Sale
-1.12
-562.13%
-0.17
+58.88%
-0.41
-513.43%
-0.07
Purchase Of PPE
-1.13
-318.89%
-0.27
+34.31%
-0.41
-513.43%
-0.07
Sale Of PPE
0.01
-88.12%
0.10
0.00
0.00
Capital Expenditure
-10.50
-145.88%
-4.27
-938.93%
-0.41
-513.43%
-0.07
Net Investment Purchase And Sale
22.82
+122.13%
-103.10
+4.26%
-107.69
-23.64%
-87.10
Purchase Of Investment
-78.40
+23.96%
-103.10
+4.26%
-107.69
-23.64%
-87.10
Sale Of Investment
101.22
0.00
0.00
0.00
Net Business Purchase And Sale
28.16
-35.23%
43.49
+5.20%
41.34
+35.40%
30.53
Purchase Of Business
0.00
+100.00%
-32.27
-3.55%
-31.16
+88.24%
-265.01
Gain Loss On Sale Of Business
0.00
0.00
+100.00%
-266.70
Net Intangibles Purchase And Sale
-9.37
-134.20%
-4.00
0.00
0.00
Purchase Of Intangibles
-9.37
-134.20%
-4.00
0.00
0.00
Financing Cash Flow
8.55
+163.56%
-13.45
+92.17%
-171.84
-209.24%
-55.57
Cash Flow From Continuing Financing Activities
8.55
+163.56%
-13.45
+92.17%
-171.84
-209.24%
-55.57
Net Issuance Payments Of Debt
0.00
0.00
+100.00%
-96.20
-210.07%
87.41
Issuance Of Debt
0.00
0.00
-100.00%
252.54
Repayment Of Debt
0.00
0.00
+100.00%
-96.20
+41.74%
-165.13
Long Term Debt Issuance
0.00
0.00
-100.00%
252.54
Long Term Debt Payments
Net Long Term Debt Issuance
0.00
0.00
-100.00%
252.54
Short Term Debt Payments
0.00
0.00
+100.00%
-96.20
+41.74%
-165.13
Net Short Term Debt Issuance
0.00
0.00
+100.00%
-96.20
+41.74%
-165.13
Net Common Stock Issuance
-2.12
+84.23%
-13.45
+82.21%
-75.64
-820.69%
-8.21
Common Stock Payments
-4.67
+68.66%
-14.92
+80.32%
-75.81
-782.99%
-8.59
Common Stock Dividend Paid
Cash Dividends Paid
Repurchase Of Capital Stock
-4.67
+68.66%
-14.92
+80.32%
-75.81
-782.99%
-8.59
Proceeds From Stock Option Exercised
10.70
0.00
0.00
-100.00%
0.12
Net Other Financing Charges
-0.03
-134.76
Changes In Cash
245.98
+120.70%
111.45
+214.27%
-97.54
-208.95%
89.52
Beginning Cash Position
304.96
+57.59%
193.51
-33.51%
291.05
+44.42%
201.53
End Cash Position
550.94
+80.66%
304.96
+57.59%
193.51
-33.51%
291.05
Free Cash Flow
186.43
+1.09%
184.42
+31.12%
140.65
-30.25%
201.66
Interest Paid Supplemental Data
10.35
-0.06%
10.36
-8.98%
11.38
-3.02%
11.74
Income Tax Paid Supplemental Data
19.11
+62.07%
11.79
0.00
-100.00%
53.85
Amortization Of Securities
0.00
Change In Income Tax Payable
4.06
-90.21%
41.48
+2304.41%
1.73
-82.79%
10.03
Change In Interest Payable
-1.80
0.00
+100.00%
-0.94
-552.66%
0.21
Change In Tax Payable
4.06
-90.21%
41.48
+2304.41%
1.73
-82.79%
10.03
Common Stock Issuance
2.55
+74.15%
1.47
+762.35%
0.17
-54.05%
0.37
Earnings Losses From Equity Investments
-77.39
-147.85%
161.75
Issuance Of Capital Stock
2.55
+74.15%
1.47
+762.35%
0.17
-54.05%
0.37
Sale Of Business
28.16
-62.82%
75.76
+4.49%
72.50
-75.47%
295.54
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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