Innoviva, Inc.

Report azionario NasdaqGS:INVA

Capitalizzazione di mercato: US$1.5b

Innoviva Gestione

Criteri Gestione verificati 3/4

Innoviva Il CEO è Pavel Raifeld, nominato in May2020, e ha un mandato di 6.33 anni. la retribuzione annua totale è $ 5.40M, composta da 11.1% di stipendio e 88.9% di bonus, comprese azioni e opzioni aziendali. possiede direttamente 0.034% delle azioni della società, per un valore di $ 503.15K. La durata media del mandato del team dirigenziale e del consiglio di amministrazione è rispettivamente 3.1 anni e 8.6 anni.

Informazioni chiave

Pavel Raifeld

Amministratore delegato

US$5.4m

Compenso totale

Percentuale dello stipendio del CEO11.11%
Mandato del CEO6.3yrs
Proprietà del CEO0.03%
Durata media del management3.1yrs
Durata media del Consiglio di amministrazione8.6yrs

Aggiornamenti recenti sulla gestione

Recent updates

Seeking Alpha • Aug 06

Innoviva: The Royalty Decline Is Real, But The Valuation Is Too Pessimistic

Summary Innoviva is a company that is transitioning from a pure royalty-based business to a diversified healthcare company with commercial products and strategic assets. I have rated Innoviva as a buy with a probability-weighted fair value of $35.26 and a base case value of $36.92. This represents a 68.1% upside from here. GSK royalties have been a main source of revenue and are now under pressure. But new therapeutic products have been ramping up to close the gap left by royalties. Innoviva strategic investments valued at $773 million carry a meaningful impairment risk while providing upside optionality. Read the full article on Seeking Alpha
Articolo di analisi • Jun 20

Innoviva (INVA) Stock Could Be 61% Below Fair Value After XACDURO Deal

Recent licensing deals and pipeline activity put Innoviva in focus Innoviva (INVA) has drawn attention after two recent announcements: an exclusive licensing and distribution deal for its antibiotic XACDURO with Dr. Reddy’s Laboratories, and the separate launch of Nortiva Bio, a clinical-stage subsidiary built around the LYNX drug delivery platform. See our latest analysis for Innoviva. At a share price of $22.49, Innoviva has eased slightly over the past week and day, but its year to date...
Articolo di analisi • Nov 13

Innoviva's (NASDAQ:INVA) Solid Profits Have Weak Fundamentals

Innoviva, Inc. ( NASDAQ:INVA ) just reported some strong earnings, and the market reacted accordingly with a healthy...
Articolo di analisi • Nov 12

Innoviva, Inc.'s (NASDAQ:INVA) Shares Bounce 26% But Its Business Still Trails The Market

Innoviva, Inc. ( NASDAQ:INVA ) shareholders would be excited to see that the share price has had a great month, posting...
Articolo di analisi • Sep 11

We Think Innoviva (NASDAQ:INVA) Can Manage Its Debt With Ease

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Articolo di analisi • Aug 09

Innoviva, Inc. Just Recorded A 54% EPS Beat: Here's What Analysts Are Forecasting Next

NasdaqGS:INVA 1 Year Share Price vs Fair Value Explore Innoviva's Fair Values from the Community and select yours A...
Articolo di analisi • Jun 23

Innoviva, Inc.'s (NASDAQ:INVA) Low P/S No Reason For Excitement

Innoviva, Inc.'s ( NASDAQ:INVA ) price-to-sales (or "P/S") ratio of 3.6x might make it look like a buy right now...
Seeking Alpha • Feb 23

Innoviva: Underappreciated Strength In Hospital Therapeutics

Summary Innoviva's strong balance sheet and stable royalty income from GlaxoSmithKline provide a solid foundation for its shift to specialty therapeutics, presenting an asymmetric risk-reward profile. The company is transitioning from a royalty collector to an operator in specialty therapeutics, with significant growth in product sales, notably GIAPREZA and XACDURO. Key assets like Zevtera, an advanced-generation antibiotic, and a promising pipeline in infectious diseases, position Innoviva for potential market disruption and growth. Despite execution risks and financial pressures, Innoviva's undervalued metrics and ample cash reserves suggest significant upside if it successfully commercializes its infectious disease portfolio. Read the full article on Seeking Alpha
Articolo di analisi • Dec 19

Innoviva, Inc.'s (NASDAQ:INVA) Popularity With Investors Is Under Threat From Overpricing

There wouldn't be many who think Innoviva, Inc.'s ( NASDAQ:INVA ) price-to-earnings (or "P/E") ratio of 17.4x is worth...
Articolo di analisi • Jul 26

Benign Growth For Innoviva, Inc. (NASDAQ:INVA) Underpins Its Share Price

Innoviva, Inc.'s ( NASDAQ:INVA ) price-to-earnings (or "P/E") ratio of 6.3x might make it look like a strong buy right...
Seeking Alpha • Jun 21

Innoviva: Potentially Overvalued

Summary Innoviva shares have increased by 25% in the past year, matching S&P 500 returns. Innoviva's financial snapshot shows revenue and net income growth, but interest expenses have increased significantly. Market assumptions suggest an optimistic growth rate of 14%, making INVA stock potentially overvalued. Read the full article on Seeking Alpha
Articolo di analisi • May 21

Why Innoviva's (NASDAQ:INVA) Shaky Earnings Are Just The Beginning Of Its Problems

Innoviva, Inc.'s ( NASDAQ:INVA ) recent weak earnings report didn't cause a big stock movement. We think that investors...
Articolo di analisi • Feb 05

Here's Why Innoviva (NASDAQ:INVA) Can Manage Its Debt Responsibly

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Articolo di analisi • Nov 04

Is Innoviva (NASDAQ:INVA) A Risky Investment?

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Articolo di analisi • Mar 02

Innoviva (NASDAQ:INVA) Seems To Use Debt Quite Sensibly

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Seeking Alpha • Sep 19

Innoviva Stock? Not Yet. Short Puts? Definitely.

Summary I think the problem of higher revenues and lower profits lingers, and I think there's risk in the recent acquisitions. That written, there is potential here. The problem is that the shares aren't as cheap as I'd like. Thankfully, the options market offers us a way to generate some decent risk adjusted returns. It’s been about 3.5 months since I wrote my latest cautious note about Innoviva Inc. (INVA), and in that time the shares have cratered an additional 20.5% against a loss of about 6.8% for the S&P 500. Much has happened since I last wrote about the business, so I thought I’d review the name again. For instance, they have made another acquisition, and they have reported earnings. I did well trading this stock in the past, so it’s time to review the name. After all, a stock trading at $12.40 is, by definition, less risky than the same stock when it’s trading at $15.60. Finally, I never tire of writing about big bank analyst mistakes, and Innoviva gives me the opportunity to do just that. Welcome to the thesis statement paragraph of the article. I’ve already hinted that this article is going to be filled with even more bragging than usual, so I can understand why you’d want to a way to glean the highlights of my thinking so you can then leave the article before being exposed to too much Doyle mojo. I think there are risks here, and I think the negative relationship between revenue and net income remain a perennial problem. That written, I’d be happy to buy this business at the right price, as I think the firm has a fairly decent moat, and I think there’s potential in the most recent acquisitions. The problem for me is that the shares aren’t objectively cheap enough. Thankfully the options market offers an alternative, and so I’ll be selling puts this week. This concludes my thesis statement. If you read on from here, that’s on you. I don’t want to read any complaints in the comments section about my self aggrandizement or the fact that I spell words like “flavour” properly or similar. Update Before getting into the financial analysis, recently the company presented at the Morgan Stanley 20th Annual Global Healthcare Conference, and I think that deserves commentary. Feel free to listen to that presentation yourselves, obviously, but if you choose to subject yourselves to this, I would recommend wearing headphones and setting the speed to 0.75x normal because the audio quality is similar to what you’d expect to hear if the conference were broadcast from inside of a deflated basketball. In case you don’t want to subject yourself to this experience, I’ll offer you what I consider to be the highlights from the presentation for your enjoyment and edification: The company expects to remain cash flow positive, and they’ve made some efforts to clean up the capital structure. In particular, they issued a $250 million convertible note that was used to pay off debt due this coming January. They took a loss of about $20.6 million to extinguish this debt. The outlook for Relvar/Breo and Anoro both look good. Even when the royalty streams for these products eventually run dry, the reality is that it’s challenging to get new products approved and onto the market. Thus, there’s a likely moat around these for some time to come. With the acquisition of Entasis and La Jolla, the company seems to be moving toward acquiring operating assets as opposed to royalty assets. The Morgan Stanley analyst noted the distinction between these two types of assets, and the challenges associated with moving from one type of asset to the other. The company believes that the acquisitions will be cash flow positive in relatively short order. La Jolla is cash flow positive as of now. While Entasis is pre-market, it’ll be possible to leverage the La Jolla hospital channel to sell into also. So, according to the company, the financial position has improved somewhat, and we’re going to review that claim below. I think the Morgan Stanley analyst is correct in suggesting that there’s risk associated with a royalty company buying operating companies. It’s generally also the case that even acquisitions that look good on paper have a nasty tendency to fail. Anyway, those were what I consider to be the highlights of the call, and I would urge you to listen to all 23 minutes of it if you’re so inclined. Financial Snapshot The most recent period continues a long, somewhat depressing trend at this firm, namely the disconnect between revenue and net income. Relative to the same period in 2021, the top line has grown about 6.4% but net income has plummeted by more than 90%. This happened in spite of a nice 29% reduction in interest expense. The chief culprits were the $19.6 million increase in R&D expenses, $8 million increase in G&A expenses, and a $20.6 million loss on debt extinguishment. The last of these won’t recur, obviously, but I think investors would be wise to gird themselves for the risk of a permanently higher cost structure here. In case you’re worried that I’m drawing a comparison between 2022 and a uniquely profitable year, fret no further, dear readers. During the presentation with Morgan Stanley, the company referenced the huge impact of the Covid pandemic, so I thought it’d be interesting to compare the current state to the pre-Covid state. When compared to the same period in 2019, revenue in 2022 is 66.2% higher, and net income is 76% lower. This is a perennial problem that I’ve been droning on about for years at this point. That said, about a month and a half after I put out my “avoid” recommendation on this stock, Goldman Sachs joined the party with a $16 price target, which represented an 8.7% upside from the then price of $14.72. Sadly the shares have gone the other way, obviously, but sooner or later Goldman’s relative optimism may pay off, so it may be worth buying the shares at the right price. Innoviva Financials (Innoviva investor relations) The Stock Welcome to the section of the article where I point out yet again what I consider to be screamingly obvious, namely that "the business" is quite a different thing from "the stock." If you read my stuff regularly for some reason, this isn't a shock to you. I feel a need to point this out because one of the more pernicious old adages that float around investing circles is that "we don't buy stocks, we buy businesses." No, we absolutely do not "buy businesses." We very much buy "stocks", and they are affected by forces that are in addition to the ups and downs of the firm. For instance, a stock may move up or down in price because of what an analyst has recently written about the business. Now, as the Goldman experience I wrote about above proves, this may not mean very much, but analyst activity is something. Also, the stock is very definitely affected by our collective views about the overall market, and stocks as an asset class. For example, given that the S&P has dropped about 6% since I wrote about this, a reasonable argument could be made to suggest that 30% of the drop in price is caused by people eschewing the “stock” asset class. It may be tiresome that your stock gets buffeted around by forces having very little to do with the company, but in my experience, this creates tremendous opportunity also. The only way to consistently make money trading stocks is to spot discrepancies between the crowd's view about a given company and subsequent results. This is the approach I’ve taken with Innoviva and it’s worked out pretty well. We want to go long a stock when the crowd becomes overly pessimistic, and we want to avoid stocks when the crowd becomes overly sanguine. This approach causes investors to miss out on some great gains in the short run, but I think it preserves the purchasing power of your capital over time, and that's really the name of the game in my view. I want to buy when the crowd is particularly pessimistic and I measure pessimism in a few ways, ranging from the simple to the more complex, and I publish some of those measures on this forum. On the simple side, I look at the ratio of price to some measure of economic value like earnings, free cash flow and the like. I want to see a stock trading at a discount to both the overall market and its own history. When last I reviewed Innoviva, I fretted about the fact that price to earnings and price to free cash flow were about 7.2 and 3.6 times respectively. The shares are either 38% more expensive or 17% cheaper depending on how you measure it per the following: Data by YCharts Since the shares are neither unambiguously cheap nor expensive, I’m on the horns of a dilemma. My tendency at the moment is to preserve capital, though I think there’s value here. I can either wait for shares to become more cheaply priced before buying, or I can earn some money today by selling put options on this stock. Those who read my stuff regularly know what I’m inclined to do. Options As Alternative In my previous article on this name, I pointed out that fully 13.7% of the $12.06 I had made trading this stock over the years has come from selling put options. I mentioned this for two reasons. First, and most importantly by far, writing about that gives me a chance to brag, and that’s never a bad thing (for me, anyway). Second, it reveals to readers the risk reducing, yield enhancing potential of these wonderful instruments. With that in mind, I recommend selling some more puts today. In particular, I’m a fan of the December Innoviva puts with a strike of $10 which are currently bid at $0.20. I like these because I enjoy the prospect of making 2% in three months. As my regulars know, I consider investments of this sort to be “win-win”, because the outcome is positive no matter what happens. If the shares remain above $10 in price between now and the third Friday of December, I’ll simply pocket the premium. If the shares drop below $10, I’ll be obliged to buy at a net price of $9.80, but I think that’d be a great entry price. It’s also much better than buying at the current market price. It's time, once again, to write about risk. It’s all well and good for a stranger on the internet to write about “win-win” trades, but if you’re going to trade these, you need to be made aware of the fact that this investment, like all investments, comes with risk. I consider the risks associated with these instruments to fall into two broad categories: the economic and the emotional.
Articolo di analisi • Sep 19

Does Innoviva (NASDAQ:INVA) Have A Healthy Balance Sheet?

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...
Articolo di analisi • Jun 16

Does Innoviva (NASDAQ:INVA) Have A Healthy Balance Sheet?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Seeking Alpha • Jun 07

Continuing To Avoid Innoviva Inc.

The shares have collapsed since I took profits this past February. This put the company on my radar, as a cheap stock is definitionally safer than an expensive one. The problem is that the shares aren't cheap enough given the financial results the company has just posted. My track record here suggests that it's prudent to not "buy and forget" a given stock. It also demonstrates the relative power of selling put options.
Articolo di analisi • Mar 04

We Think Innoviva (NASDAQ:INVA) Can Manage Its Debt With Ease

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Seeking Alpha • Feb 21

Taking Innoviva Winnings Off The Table, Again

I think Innoviva's recent financial results have been quite good in many ways. Both revenue and net income are materially higher than both 2020 and 2019. I think Innoviva management likely overpaid for the stock buyback, but this isn't the worst thing in the world, in my view. The worst thing is the valuation here. Last month's short puts are now even deeper out of the money, and the bid has collapsed as a result. So I'm selling INVA stock and maintaining my short put position.
Seeking Alpha • Jan 15

Innoviva Inc.: Short Puts Are Compelling

The financial results so far in 2021 have been quite good in my estimation, and I don't think the share price reflects this reality. The shares are trading near levels that correspond to future decent returns, and for that reason I'll be taking a small position in the company. More compelling, in my view, are the short puts that I describe below.
Articolo di analisi • Oct 19

Is Innoviva (NASDAQ:INVA) A Risky Investment?

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...
Seeking Alpha • Oct 16

Taking Profits In Innoviva Inc.

Results so far in 2021 have been impressive, with both revenue and net income much higher than the same periods in either 2020 or 2019. That said, the company fired a massive buyback program in the 2nd quarter and it seems the market yawned. This makes me wonder what will happen absent buybacks. I suggested investors also sell puts here. I take this opportunity to drone on yet again about the risk reducing, return-enhancing power of these options.
Articolo di analisi • Mar 30

These 4 Measures Indicate That Innoviva (NASDAQ:INVA) Is Using Debt Safely

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Articolo di analisi • Mar 04

Is Weakness In Innoviva, Inc. (NASDAQ:INVA) Stock A Sign That The Market Could be Wrong Given Its Strong Financial Prospects?

Innoviva (NASDAQ:INVA) has had a rough month with its share price down 10%. However, a closer look at its sound...
Articolo di analisi • Jan 15

Did Innoviva's (NASDAQ:INVA) Share Price Deserve to Gain 36%?

When you buy and hold a stock for the long term, you definitely want it to provide a positive return. But more than...
Articolo di analisi • Dec 25

These 4 Measures Indicate That Innoviva (NASDAQ:INVA) Is Using Debt Safely

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Articolo di analisi • Dec 04

Will Weakness in Innoviva, Inc.'s (NASDAQ:INVA) Stock Prove Temporary Given Strong Fundamentals?

With its stock down 9.7% over the past three months, it is easy to disregard Innoviva (NASDAQ:INVA). However, stock...

Analisi delle retribuzioni degli amministratori delegati

Come è cambiata la remunerazione di Pavel Raifeld rispetto agli utili di Innoviva?
DataCompenso totaleStipendioUtili della società
Jun 30 2026n/an/a

US$357m

Mar 31 2026n/an/a

US$504m

Dec 31 2025US$5mUS$600k

US$271m

Sep 30 2025n/an/a

US$127m

Jun 30 2025n/an/a

US$39m

Mar 31 2025n/an/a

-US$60m

Dec 31 2024US$3mUS$503k

US$23m

Sep 30 2024n/an/a

US$65m

Jun 30 2024n/an/a

US$145m

Mar 31 2024n/an/a

US$181m

Dec 31 2023US$869kUS$485k

US$180m

Sep 30 2023n/an/a

US$50m

Jun 30 2023n/an/a

US$233m

Mar 31 2023n/an/a

US$233m

Dec 31 2022US$2mUS$440k

US$214m

Sep 30 2022n/an/a

US$293m

Jun 30 2022n/an/a

US$99m

Mar 31 2022n/an/a

US$188m

Dec 31 2021US$1mUS$391k

US$266m

Sep 30 2021n/an/a

US$309m

Jun 30 2021n/an/a

US$265m

Mar 31 2021n/an/a

US$253m

Dec 31 2020US$2mUS$222k

US$224m

Compensazione vs Mercato: La retribuzione totale di Pavel ($USD 5.40M ) è circa la media per le aziende di dimensioni simili nel mercato US ($USD 5.22M ).

Compensazione vs guadagni: La retribuzione di Pavel è aumentata di oltre il 20% nell'ultimo anno.

AMMINISTRATORE DELEGATO

Pavel Raifeld (42 yo)

6.3yrs
Mandato
US$5,400,197
Compensazione

Mr. Pavel Raifeld, C.F.A., is Director of Beacon Biosignals, Inc. Mr. Raifeld is Director of Syndeio Biosciences, Inc. He is a Director of La Jolla Pharmaceutical Company since August 22, 2022. He serves a...

Gruppo dirigente

NomePosizioneMandatoCompensazioneProprietà
Pavel Raifeld
CEO & Director6.3yrsUS$5.40m0.034%
$ 503.2k
Stephen Basso
Chief Financial Officer3.1yrsUS$2.17m0.012%
$ 174.2k
Marianne Zhen
Chief Accounting Officer & Secretary8.2yrsUS$1.08m0.078%
$ 1.2m
Patricia Drake
Chief Commercial Officer-Innoviva Specialty Therapeutics2.2yrsNessun datoNessun dato
David Altarac
Chief Medical Officer of IST2.6yrsNessun datoNessun dato
3.1yrs
Durata media
59yo
Età media

Gestione esperta: Il team dirigenziale di INVA è considerato esperto (durata media dell'incarico 3.1 anni).

Membri del Consiglio di amministrazione

NomePosizioneMandatoCompensazioneProprietà
Pavel Raifeld
CEO & Directorno dataUS$5.40m0.034%
$ 503.2k
Jules Haimovitz
Independent Director8.6yrsUS$447.24k0.20%
$ 3.0m
Josephine Linden
Independent Directorless than a yearNessun datoNessun dato
Sarah Schlesinger
Independent Director8.6yrsUS$396.85k0.18%
$ 2.7m
8.6yrs
Durata media
70yo
Età media

Consiglio di amministrazione esperto: I membri del consiglio di amministrazione di INVA sono considerati esperti (durata media dell'incarico 8.6 anni).

Analisi aziendale e situazione dei dati finanziari

DatiUltimo aggiornamento (ora UTC)
Analisi dell'azienda2026/09/14 18:44
Prezzo dell'azione a fine giornata2026/09/14 00:00
Utili2026/06/30
Utili annuali2025/12/31

Fonti dei dati

I dati utilizzati nella nostra analisi aziendale provengono da S&P Global Market Intelligence LLC. I seguenti dati sono utilizzati nel nostro modello di analisi per generare questo report. I dati sono normalizzati, il che può comportare un ritardo nella disponibilità della fonte.

PacchettoDatiTempisticaEsempio Fonte USA *
Dati finanziari della società10 anni
  • Conto economico
  • Rendiconto finanziario
  • Bilancio
Stime di consenso degli analisti+3 anni
  • Previsioni finanziarie
  • Obiettivi di prezzo degli analisti
Prezzi di mercato30 anni
  • Prezzi delle azioni
  • Dividendi, scissioni e azioni
Proprietà10 anni
  • Top azionisti
  • Insider trading
Gestione10 anni
  • Team di leadership
  • Consiglio di amministrazione
Sviluppi principali10 anni
  • Annunci aziendali

* Esempio per i titoli statunitensi, per i titoli non statunitensi si utilizzano forme e fonti normative equivalenti.

Se non specificato, tutti i dati finanziari si basano su un periodo annuale ma vengono aggiornati trimestralmente. Si tratta dei cosiddetti dati TTM (Trailing Twelve Month) o LTM (Last Twelve Month). Per saperne di più.

Modello di analisi e Snowflake

I dettagli del modello di analisi utilizzato per generare questo report sono disponibili sulla nostra pagina GitHub; abbiamo anche delle guide su come utilizzare i nostri report e dei tutorial su YouTube.

Scoprite il che ha progettato e realizzato il modello di analisi Simply Wall St.

Metriche di settore e industriali

Le nostre metriche di settore e di sezione sono calcolate ogni 6 ore da Simply Wall St; i dettagli del nostro processo sono disponibili su Github.

Fonti analitiche

Innoviva, Inc. è coperta da 19 analisti. 5 di questi analisti ha fornito le stime di fatturato o di utile utilizzate come input per il nostro report. Le stime degli analisti vengono aggiornate nel corso della giornata.

AnalistaIstituzione
Jon LangenfeldBaird
James BirchenoughBarclays
Patrick TrucchioBerenberg