Stock of the Day

November 26, 2021

Innoviva (INVA)

$21.71
-$0.50 (-2.3%)
Market Cap: $1.64B

About Innoviva

Innoviva, Inc. engages in the development and commercialization of pharmaceutical products in the United States and internationally. The company's products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a LABA, vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate; ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA) and umeclidinium bromide (UMEC) with a LABA, VI; GIAPREZA (angiotensin II), a vasoconstrictor to increase blood pressure in adults with septic or other distributive shock; XERAVA (eravacycline) for the treatment of complicated intra-abdominal infections in adults; and XACDURO, a beta lactamase inhibitor for the treatment of hospital-acquired bacterial pneumonia and ventilator-associated bacterial pneumonia. Its development pipeline includes zoliflodacin, a late-stage product candidate, a potential single oral dose cure for the treatment of uncomplicated gonorrhea. Innoviva, Inc. has a strategic partnership with Sarissa Capital Management LP. It has long-acting beta2 agonist (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.

Today's Trend

Innoviva, Inc. (NASDAQ: INVA) is edging higher today after a series of mostly mixed-to-positive developments, with the biggest headline being a new international partnership for its XACDURO therapy. The stock is also getting support from renewed analyst coverage that still carries a bullish rating, even though HC Wainwright trimmed several earnings forecasts.

  • Innoviva Specialty Therapeutics announced a partnership with Dr. Reddy’s to expand international access to XACDURO, which could broaden the drug’s commercial reach and support future revenue growth. Article: Innoviva Specialty Therapeutics (INVA) Partners With Dr. Reddy’s to Expand XACDURO Access Internationally
  • HC Wainwright kept a Buy rating and a $46 price target on Innoviva, suggesting the firm still sees meaningful upside despite lowering near-term estimates.
  • Analysts at HC Wainwright slightly reduced earnings estimates for Q4 2026, Q1 2027, Q2 2027, Q3 2027, Q4 2027, and FY2027, but the cuts were modest and the company’s forecasts remain above the current full-year consensus in some periods.
  • A Benzinga dividend page was also listed, but no new dividend action was clearly reported in the provided item. Article: Innoviva Stock Dividends | NASDAQ:INVA | Benzinga

Overall, Innoviva (NASDAQ: INVA) appears to be moving up on partnership-driven optimism and continued analyst support, while the small earnings estimate cuts likely added only limited pressure.

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