DB:HVE

Stock Analysis Report

Executive Summary

Innoviva, Inc. engages in the development and commercialization of pharmaceuticals.

Snowflake

Fundamentals

Solid track record and good value.

Risks

  • Innoviva is covered by less than 3 analysts.

Similar Companies

Share Price & News

How has Innoviva's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-4.6%

DB:HVE

0.3%

DE Pharmaceuticals

-1.1%

DE Market


1 Year Return

-0.6%

DB:HVE

-21.0%

DE Pharmaceuticals

-8.5%

DE Market

HVE outperformed the Pharmaceuticals industry which returned -22.1% over the past year.

HVE outperformed the Market in Germany which returned -8.3% over the past year.


Share holder returns

HVEIndustryMarket
7 Day-4.6%0.3%-1.1%
30 Day-5.6%5.0%-0.4%
90 Day1.5%-2.3%-4.0%
1 Year-0.6%-0.6%-18.2%-21.0%-5.6%-8.5%
3 Year11.1%11.1%-15.1%-22.3%18.3%8.1%
5 Year-29.1%-34.1%-8.0%-19.4%26.9%9.4%

Price Volatility Vs. Market

How volatile is Innoviva's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Innoviva undervalued based on future cash flows and its price relative to the stock market?

>50%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Innoviva's share price is below the future cash flow value, and at a moderate discount (> 20%).

Innoviva's share price is below the future cash flow value, and at a substantial discount (> 40%).


Price Based on Earnings

Innoviva is good value based on earnings compared to the DE Pharmaceuticals industry average.

Innoviva is good value based on earnings compared to the Germany market.


Price Based on Expected Growth

Innoviva earnings are not expected to grow next year, we can't assess if its growth is good value.


Price Based on Value of Assets

Innoviva is overvalued based on assets compared to the DE Pharmaceuticals industry average.


Next Steps

Future Growth

How is Innoviva expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

-20.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Innoviva's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.

Innoviva's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.

Innoviva's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.

Innoviva's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.

Innoviva's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.


Earnings per Share Growth Estimates


Future Return on Equity

Innoviva is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).


Next Steps

Past Performance

How has Innoviva performed over the past 5 years?

75.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Innoviva has delivered over 20% year on year earnings growth in the past 5 years.

Innoviva's 1-year earnings growth exceeds its 5-year average (171.8% vs 75.2%)

Innoviva's earnings growth has exceeded the DE Pharmaceuticals industry average in the past year (171.8% vs 4.5%).


Return on Equity

Whilst Innoviva made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%), this is metric is skewed due to its high level of debt.


Return on Assets

Innoviva used its assets more efficiently than the DE Pharmaceuticals industry average last year based on Return on Assets.


Return on Capital Employed

Innoviva has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Innoviva's financial position?


Financial Position Analysis

Innoviva is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Innoviva's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Innoviva's level of debt (192.4%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (113.2% vs 192.4% today).

Debt is well covered by operating cash flow (65%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 13.4x coverage).


Balance Sheet

Low level of unsold assets.

Debt is not covered by short term assets, assets are 0.7x debt.


Next Steps

Dividend

What is Innoviva's current dividend yield, its reliability and sustainability?


Dividend Yield and Payments Analysis

Unable to evaluate Innoviva's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate Innoviva's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as Innoviva has not reported any payouts.

Unable to verify if Innoviva's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as Innoviva has not reported any payouts.


Future Payout to Shareholders

No need to calculate the sustainability of Innoviva's dividends in 3 years as they are not expected to pay a notable one for Germany.


Next Steps

Management

What is the CEO of Innoviva's salary, the management and board of directors tenure and is there insider trading?

1.2yrs

Average management tenure


CEO

Geoff Hulme (52yo)

1.2yrs

Tenure

US$419,645

Compensation

Mr. Geoffrey Hulme, also known as Geoff, has been Interim Principal Executive Officer of Innoviva Inc. since May 21, 2018. Prior to joining Innoviva, Mr. Hulme served as the owner and manager of Steel Vall ...


CEO Compensation Analysis

Geoff's remuneration is lower than average for companies of similar size in Germany.

Insufficient data for Geoff to compare compensation growth.


Management Age and Tenure

1.2yrs

Average Tenure

The average tenure for the Innoviva management team is less than 2 years, this suggests a new team.


Board Age and Tenure

1.4yrs

Average Tenure

59yo

Average Age

The average tenure for the Innoviva board of directors is less than 3 years, this suggests a new board.


Insider Trading

No 3 month individual insider trading information.


Recent Insider Transactions

Sell€79,06928 Feb 19
Marianne Zhen
EntityIndividual
Role
Chief Accounting Officer
Shares5,617
Max Price€14.08
Buy€209,71328 Feb 19
George Bickerstaff
EntityIndividual
Role
Member of the Board of Directors
Shares15,000
Max Price€13.98
Buy€9,742,10725 Feb 19
Sarissa Capital Management
EntityCompany
Shares745,000
Max Price€13.32
Buy€131,42622 Feb 19
George Bickerstaff
EntityIndividual
Role
Member of the Board of Directors
Shares10,000
Max Price€13.14
Buy€91,89320 Feb 19
Geoffrey Hulme
EntityIndividual
Role
Interim Principal Executive Officer
Shares7,000
Max Price€13.13
Sell€104,18122 Aug 18
Theodore Witek
EntityIndividual
Shares8,504
Max Price€12.25

Ownership Breakdown


Management Team

  • Geoff Hulme (52yo)

    Interim Principal Executive Officer

    • Tenure: 1.2yrs
    • Compensation: $419.65k
  • Jeffrey Hagenah

    Chief Patent Counsel and Vice President

  • Kevin Kwok

    Head of Talent Acquisition & Strategy

    • Tenure: 5.3yrs
  • Marianne Zhen (50yo)

    Chief Accounting Officer

    • Tenure: 1.0yrs
    • Compensation: $798.23k

Board Members

  • Jules Haimovitz (68yo)

    Director

    • Tenure: 1.4yrs
    • Compensation: $453.83k
  • George Bickerstaff (63yo)

    Independent Director

    • Tenure: 1.6yrs
    • Compensation: $302.08k
  • Odysseas Kostas (44yo)

    Chairman of the Board

    • Compensation: $307.07k
  • Sarah Schlesinger (59yo)

    Director

    • Tenure: 1.4yrs
    • Compensation: $446.96k
  • Mark DiPaolo (48yo)

    Director

    • Tenure: 1.4yrs
    • Compensation: $441.81k

Company Information

Innoviva, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Innoviva, Inc.
  • Ticker: HVE
  • Exchange: DB
  • Founded: 1996
  • Industry: pharmaceuticals
  • Sector: pharmaceuticals & biotech
  • Market Cap: US$1.365b
  • Listing Market Cap: US$1.216b
  • Shares outstanding: 101.26m
  • Website: Click here

Number of Employees


Location

  • Innoviva, Inc.
  • 2000 Sierra Point Parkway
  • Suite 500
  • Brisbane
  • California
  • 94005
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
INVANasdaqGS (Nasdaq Global Select)YesCommon SharesUSUSDOct 2004
HVEDB (Deutsche Boerse AG)YesCommon SharesDEEUROct 2004

Biography

Innoviva, Inc. engages in the development and commercialization of pharmaceuticals. The company has long-acting beta2 agonist (LABA) collaboration agreement with Glaxo Group Limited to develop and commerci ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/07/18 22:01
End of Day Share Price2019/07/18 00:00
Earnings2019/03/31
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.