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Innoviva, Inc.

INVA · NASDAQ

Market closed$21.71$-0.500000 (-2.25%)After hours $21.71 · 0.00%

Key statistics

Previous close$22.21
Open$22.21
Day high$22.47
Day low$21.65
52-week high$25.15
52-week low$16.52
Market cap1.60B
Volume516.42K
Average volume823.07K
P/E ratio5.13
Forward P/E—
EPS4.23
Dividend yield0.00%

Market context

Why it moved

INVA shares declined amid broad selling pressure and a lack of positive catalysts, with investors likely reacting to general sector weakness in the pharmaceutical space as reflected by the pullback from the day's opening levels.

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What is happening

Recent company-specific developments and publisher coverage.

July 17, 2026Innoviva closed modestly higher, outperforming a mixed healthcare sector (XLV) as a broader wave of positive sentiment lifted biotech names following UnitedHealth Group's strong Q2 earnings beat and raised full-year guidance. The healthcare sector's recovery — after collective weakness earlier in the week — provided a favorable backdrop for Innoviva, with biotechnology stocks broadly up ~12% since Q1 earnings results. In after-hours trading, Innoviva extended gains further, rising an additional ~2%, even as XLV dipped slightly, suggesting company-specific investor interest beyond the sector tailwind.

1.4619

July 14, 2026Innoviva closed essentially flat amid a challenging macro backdrop, with U.S.-Iran tensions sending oil prices surging and pressuring equity markets broadly. The biotech sector faces near-term headwinds from the macro environment, though Goldman Sachs recently highlighted strong sector fundamentals, robust M&A appetite, and a 56%+ 12-month rally in biotech indices—dynamics that could support Innoviva as a royalty-based biotech with its GlaxoSmithKline respiratory product portfolio. In after-hours trading, shares edged up nearly 2%, outperforming the healthcare ETF (XLV) which slipped modestly.

-0.1349

July 9, 2026Innoviva closed modestly lower amid a notable index development: the company was recently removed from several Russell growth and small-cap benchmarks, a change that can prompt index-fund rebalancing and short-term trading volatility. Despite the demotion, the stock screens as deeply undervalued at a 3.3x P/E ratio — roughly 62% below an internal fair value estimate of ~$59 per share — drawing attention from value-oriented investors. The backdrop for biotechs remains broadly supportive, with Jim Cramer labeling the sector 'the hottest group in the market' and M&A activity accelerating under a friendlier FDA regulatory environment.

-1.0254

July 8, 2026Innoviva edged higher in the regular session but slipped in after-hours trading, as the stock's removal from several Russell growth and small-cap indexes drew investor attention and could prompt near-term selling pressure from index-tracking funds rebalancing their portfolios. Despite the index exclusion, valuation-focused analysts highlight that Innoviva screens as deeply undervalued, trading at a P/E of just 3.3x and roughly 62% below one internal fair value estimate of ~$59 per share. The broader biotech backdrop is constructive, with Jim Cramer calling biotech "the hottest group in the market" amid an anticipated M&A wave and healthcare posting strong recent sector performance.

0.809

July 8, 2026Innoviva shares rose nearly 2%, outperforming the broader healthcare sector as XLV closed near its 52-week high amid a sustained rotation into healthcare. Biotech sentiment received a broader boost from Jim Cramer's bullish M&A call on CNBC, predicting a wave of dealmaking under a more favorable FDA regime — a dynamic that could benefit mid-cap biotech names like Innoviva. Health care has been the S&P 500's top-performing sector for two consecutive weeks, with XLV up over 13% in recent months, providing a supportive backdrop for the stock.

1.9707

July 6, 2026Innoviva declined as broader healthcare sector weakness weighed on the stock, with major names like Pfizer, AbbVie, and Johnson & Johnson all posting losses on the session. The company's near-term narrative remains shaped by its late-June removal from multiple Russell growth indices—including the Russell 2000 Growth and Russell 3000 Growth—which has introduced incremental selling pressure as index-linked holders rebalance. Longer-term, investors are weighing Innoviva's transition toward Nortiva Bio and its LYNX long-acting oral drug delivery platform against expectations for earnings contraction and valuation uncertainty.

-2.1963

July 2, 2026Innoviva gained nearly 2% as fresh investor attention has been drawn to its deeply discounted valuation and strategic pipeline developments, including the June launch of Nortiva Bio — a clinical-stage subsidiary built on the LYNX long-acting oral drug platform acquired from Lyndra Therapeutics — and a new XACDURO distribution and licensing deal with Dr. Reddy's Laboratories. Trading at a P/E of just 3.4x versus industry peers at ~16x and sitting roughly 51% below the average analyst price target of $35.50, Innoviva has been highlighted as one of the best cheap small-cap biotech stocks, with the healthcare sector (XLV) near 52-week highs providing a supportive backdrop.

1.8721

June 29, 2026Innoviva declined as the company was dropped from multiple Russell growth benchmarks—including the Russell 2000 Growth, Russell Small Cap Comp Growth, and Russell 2500 Growth indices—on the same day, a rebalancing event that can trigger passive fund selling. This came despite a constructive backdrop of recent strategic moves, including the launch of Nortiva Bio (built around the LYNX long-acting oral drug platform acquired from Lyndra Therapeutics) and a new XACDURO licensing deal with Dr. Reddy's Laboratories, which have fueled a ~19% year-to-date gain ahead of today's pullback. With analyst price targets averaging $35.50 versus a current price near $23, the valuation gap remains a key investor talking point.

-1.8244

富途牛牛 · July 15, 2026H.C. Wainwright Maintains Innoviva(INVA.US) With Buy Rating, Maintains Target Price $46Simply Wall Street · July 3, 2026Is Innoviva (INVA) Trading Index Membership for a Deeper Bet on Nortiva Bio’s LYNX Platform?Quiver Quantitative · June 22, 2026New Analyst Forecast: $INVA Given $42 Price TargetBusiness Wire · June 16, 2026Innoviva Specialty Therapeutics Announces Distribution and Licensing Agreement with Dr. Reddy’s for XACDUROBioSpace · May 7, 2026Innoviva Reports First Quarter 2026 Financial Results; Highlights Recent Company ProgressInvesting.com · April 8, 2026Cantor Fitzgerald reiterates Innoviva stock rating on royalty strengthInvestor's Business Daily · April 2, 2026Analysts See This Pharma Stock Surging 60%; Eyes Fresh Entry
Mt Newswire · June 16, 2026Innoviva' Specialty Therapeutics Unit Signs Licensing Deal With Dr. Reddy's for Xacduro
Benzinga · June 16, 2026Innoviva Specialty Therapeutics Inks Agreement With Dr. Reddy's Laboratories To Develop, Commercialize XACDURO To Treat Bacterial Pneumonia
Benzinga · May 26, 2026BTIG Reiterates Buy on Innoviva, Maintains $42 Price Target
Benzinga · May 7, 2026BTIG Maintains Buy on Innoviva, Raises Price Target to $42
Benzinga · May 6, 2026Innoviva Q1 EPS $2.22 Beats $0.36 Estimate, Sales $97.994M Miss $101.555M Estimate
Mt Newswire · May 6, 2026Earnings Flash (INVA) Innoviva, Inc. Reports Q1 Revenue $98.0M, vs. FactSet Est of $101.6M
Benzinga · February 26, 2026BTIG Reiterates Buy on Innoviva, Maintains $35 Price Target
Benzinga · February 25, 2026Innoviva Q4 EPS $1.94 Beats $0.66 Estimate, Sales $114.613M Beat $101.530M Estimate

Peers

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