Innoviva, Inc. (INVA)
Healthcare · NMS · US
Fundamentals
Valuation and ratings
Innoviva, Inc. trades at USD21.71, which is 125% below the USD48.86 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 86 out of 100, which is a wide moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 3.5 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Innoviva, Inc.
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.
INVA passes 6 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Super investor ownership
9 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Renaissance Technologies, RENAISSANCE TECHNOLOGIES LLC$94.50M · 0.1% of book
- Israel Englander, MILLENNIUM MANAGEMENT LLC$53.11M · 0.0% of book
- Arrowstreet Capital, ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$43.98M · 0.0% of book
- Marshall Wace, MARSHALL WACE, LLP$35.05M · 0.0% of book
- Two Sigma, TWO SIGMA INVESTMENTS, LP$34.58M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Innoviva, Inc. (INVA) undervalued?
Against our discounted cash flow estimate of USD48.86, INVA at USD21.71 is 125% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own INVA?
9 of the institutions we track reported a position in INVA in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is INVA's P/E ratio?
INVA trades at 3.5 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for INVA, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.