Intrinsic value of Innoviva - INVA

Previous Close

$16.39

  Intrinsic Value

$5.55

stock screener

  Rating & Target

str. sell

-66%

Previous close

$16.39

 
Intrinsic value

$5.55

 
Up/down potential

-66%

 
Rating

str. sell

We calculate the intrinsic value of INVA stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  14.60
  13.64
  12.78
  12.00
  11.30
  10.67
  10.10
  9.59
  9.13
  8.72
  8.35
  8.01
  7.71
  7.44
  7.20
  6.98
  6.78
  6.60
  6.44
  6.30
  6.17
  6.05
  5.95
  5.85
  5.77
  5.69
  5.62
  5.56
  5.50
  5.45
Revenue, $m
  249
  283
  319
  357
  398
  440
  485
  531
  580
  630
  683
  737
  794
  853
  915
  979
  1,045
  1,114
  1,186
  1,260
  1,338
  1,419
  1,503
  1,591
  1,683
  1,779
  1,879
  1,983
  2,092
  2,206
Variable operating expenses, $m
  26
  30
  34
  38
  42
  47
  51
  56
  61
  67
  72
  78
  84
  90
  97
  104
  111
  118
  126
  134
  142
  150
  159
  169
  178
  189
  199
  210
  222
  234
Fixed operating expenses, $m
  11
  11
  12
  12
  12
  13
  13
  13
  13
  14
  14
  14
  15
  15
  15
  16
  16
  16
  17
  17
  17
  18
  18
  19
  19
  19
  20
  20
  21
  21
Total operating expenses, $m
  37
  41
  46
  50
  54
  60
  64
  69
  74
  81
  86
  92
  99
  105
  112
  120
  127
  134
  143
  151
  159
  168
  177
  188
  197
  208
  219
  230
  243
  255
Operating income, $m
  211
  241
  273
  307
  343
  381
  420
  462
  505
  550
  596
  645
  695
  748
  803
  859
  918
  979
  1,043
  1,110
  1,179
  1,251
  1,326
  1,404
  1,486
  1,571
  1,660
  1,753
  1,850
  1,951
EBITDA, $m
  211
  241
  274
  308
  343
  381
  420
  462
  505
  550
  596
  645
  696
  748
  803
  859
  918
  980
  1,044
  1,110
  1,179
  1,251
  1,326
  1,404
  1,486
  1,571
  1,660
  1,753
  1,850
  1,952
Interest expense (income), $m
  49
  40
  18
  20
  23
  25
  28
  31
  34
  37
  40
  44
  47
  51
  55
  59
  63
  67
  72
  77
  81
  86
  92
  97
  103
  109
  115
  122
  128
  136
  143
Earnings before tax, $m
  172
  224
  253
  285
  318
  353
  390
  428
  468
  509
  553
  598
  644
  693
  744
  796
  851
  908
  967
  1,028
  1,092
  1,159
  1,229
  1,301
  1,377
  1,456
  1,538
  1,624
  1,714
  1,808
Tax expense, $m
  46
  60
  68
  77
  86
  95
  105
  116
  126
  138
  149
  161
  174
  187
  201
  215
  230
  245
  261
  278
  295
  313
  332
  351
  372
  393
  415
  439
  463
  488
Net income, $m
  125
  163
  185
  208
  232
  258
  284
  312
  341
  372
  403
  436
  470
  506
  543
  581
  621
  663
  706
  751
  797
  846
  897
  950
  1,005
  1,063
  1,123
  1,186
  1,251
  1,320

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  284
  323
  365
  408
  454
  503
  554
  607
  662
  720
  780
  843
  908
  975
  1,045
  1,118
  1,194
  1,273
  1,355
  1,440
  1,529
  1,622
  1,718
  1,819
  1,923
  2,033
  2,147
  2,266
  2,391
  2,521
Adjusted assets (=assets-cash), $m
  284
  323
  365
  408
  454
  503
  554
  607
  662
  720
  780
  843
  908
  975
  1,045
  1,118
  1,194
  1,273
  1,355
  1,440
  1,529
  1,622
  1,718
  1,819
  1,923
  2,033
  2,147
  2,266
  2,391
  2,521
Revenue / Adjusted assets
  0.877
  0.876
  0.874
  0.875
  0.877
  0.875
  0.875
  0.875
  0.876
  0.875
  0.876
  0.874
  0.874
  0.875
  0.876
  0.876
  0.875
  0.875
  0.875
  0.875
  0.875
  0.875
  0.875
  0.875
  0.875
  0.875
  0.875
  0.875
  0.875
  0.875
Average production assets, $m
  0
  0
  0
  0
  0
  0
  0
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  2
  2
  2
  2
  2
  2
  2
  2
Working capital, $m
  71
  80
  91
  101
  113
  125
  138
  151
  165
  179
  194
  209
  226
  242
  260
  278
  297
  316
  337
  358
  380
  403
  427
  452
  478
  505
  534
  563
  594
  627
Total debt, $m
  270
  305
  342
  382
  423
  467
  513
  560
  610
  662
  716
  773
  831
  892
  955
  1,021
  1,089
  1,160
  1,234
  1,310
  1,390
  1,474
  1,560
  1,651
  1,745
  1,844
  1,947
  2,054
  2,166
  2,283
Total liabilities, $m
  256
  291
  328
  368
  409
  453
  498
  546
  596
  648
  702
  758
  817
  878
  941
  1,006
  1,075
  1,146
  1,219
  1,296
  1,376
  1,459
  1,546
  1,637
  1,731
  1,830
  1,932
  2,040
  2,152
  2,269
Total equity, $m
  28
  32
  36
  41
  45
  50
  55
  61
  66
  72
  78
  84
  91
  98
  105
  112
  119
  127
  135
  144
  153
  162
  172
  182
  192
  203
  215
  227
  239
  252
Total liabilities and equity, $m
  284
  323
  364
  409
  454
  503
  553
  607
  662
  720
  780
  842
  908
  976
  1,046
  1,118
  1,194
  1,273
  1,354
  1,440
  1,529
  1,621
  1,718
  1,819
  1,923
  2,033
  2,147
  2,267
  2,391
  2,521
Debt-to-equity ratio
  9.500
  9.440
  9.390
  9.350
  9.310
  9.280
  9.260
  9.230
  9.210
  9.200
  9.180
  9.170
  9.160
  9.150
  9.140
  9.130
  9.120
  9.110
  9.100
  9.100
  9.090
  9.090
  9.080
  9.080
  9.070
  9.070
  9.070
  9.060
  9.060
  9.060
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  125
  163
  185
  208
  232
  258
  284
  312
  341
  372
  403
  436
  470
  506
  543
  581
  621
  663
  706
  751
  797
  846
  897
  950
  1,005
  1,063
  1,123
  1,186
  1,251
  1,320
Depreciation, amort., depletion, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Funds from operations, $m
  125
  163
  185
  208
  232
  258
  284
  312
  342
  372
  404
  436
  471
  506
  543
  581
  621
  663
  706
  751
  798
  846
  897
  950
  1,005
  1,063
  1,123
  1,186
  1,252
  1,321
Change in working capital, $m
  9
  10
  10
  11
  11
  12
  13
  13
  14
  14
  15
  16
  16
  17
  17
  18
  19
  20
  20
  21
  22
  23
  24
  25
  26
  27
  28
  30
  31
  32
Cash from operations, $m
  116
  154
  175
  197
  221
  246
  272
  299
  328
  358
  389
  421
  454
  489
  526
  563
  602
  643
  686
  730
  776
  823
  873
  925
  979
  1,036
  1,095
  1,156
  1,221
  1,288
Maintenance CAPEX, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
New CAPEX, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from investing activities, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Free cash flow, $m
  116
  154
  175
  197
  221
  246
  272
  299
  328
  357
  388
  421
  454
  489
  525
  563
  602
  643
  685
  729
  775
  823
  873
  925
  979
  1,035
  1,094
  1,156
  1,220
  1,288
Issuance/(repayment) of debt, $m
  -329
  35
  37
  39
  42
  44
  46
  48
  50
  52
  54
  56
  58
  61
  63
  66
  68
  71
  74
  77
  80
  83
  87
  90
  94
  98
  103
  107
  112
  117
Issuance/(repurchase) of shares, $m
  240
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -89
  35
  37
  39
  42
  44
  46
  48
  50
  52
  54
  56
  58
  61
  63
  66
  68
  71
  74
  77
  80
  83
  87
  90
  94
  98
  103
  107
  112
  117
Total cash flow (excl. dividends), $m
  28
  188
  212
  236
  262
  289
  317
  347
  378
  409
  443
  477
  513
  550
  589
  629
  670
  714
  759
  806
  855
  906
  960
  1,015
  1,073
  1,134
  1,197
  1,263
  1,333
  1,405
Retained Cash Flow (-), $m
  -366
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -10
  -11
  -11
  -12
  -12
  -13
Prev. year cash balance distribution, $m
  94
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -244
  185
  208
  232
  258
  284
  312
  342
  372
  404
  437
  471
  506
  543
  582
  621
  663
  706
  751
  798
  846
  897
  950
  1,005
  1,063
  1,123
  1,186
  1,251
  1,320
  1,392
Discount rate, %
  11.70
  12.29
  12.90
  13.54
  14.22
  14.93
  15.68
  16.46
  17.29
  18.15
  19.06
  20.01
  21.01
  22.06
  23.17
  24.32
  25.54
  26.82
  28.16
  29.57
  31.04
  32.60
  34.23
  35.94
  37.73
  39.62
  41.60
  43.68
  45.87
  48.16
PV of cash for distribution, $m
  -218
  146
  144
  140
  132
  123
  113
  101
  89
  76
  64
  53
  42
  33
  26
  19
  14
  10
  7
  4
  3
  2
  1
  1
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0

Innoviva, Inc., formerly Theravance, Inc., is engaged in the development, commercialization and financial management of bio-pharmaceuticals. It focuses on the respiratory assets partnered with Glaxo Group Limited (GSK), including RELVAR/BREO ELLIPTA (fluticasone furoate (FF)/vilanterol (VI)) and ANORO ELLIPTA (umeclidinium bromide/vilanterol (UMEC/VI)). Under the Long-Acting Beta2 Agonist (LABA) Collaboration Agreement and the Strategic Alliance Agreement with GSK, the Company is eligible to receive the annual royalties from GSK on sales of RELVAR/BREO ELLIPTA. For other products combined with a LABA from the LABA collaboration, such as ANORO ELLIPTA, royalties are upward tiering and range from 6.5% to 10%. RELVAR/BREO is a once-a-day combination inhaled respiratory medicine consisting of a LABA (VI) and an inhaled corticosteroid (ICS), FF. ANORO ELLIPTA a once-daily medicine combining a long-acting muscarinic antagonist (LAMA), umeclidinium bromide (UMEC), with a LABA.

FINANCIAL RATIOS  of  Innoviva (INVA)

Valuation Ratios
P/E Ratio 29.6
Price to Sales 13.3
Price to Book -5
Price to Tangible Book
Price to Cash Flow 29.1
Price to Free Cash Flow 29.1
Growth Rates
Sales Growth Rate 148.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate -100%
Financial Strength
Quick Ratio 19
Current Ratio 0
LT Debt to Equity -200.6%
Total Debt to Equity -202.8%
Interest Coverage 2
Management Effectiveness
Return On Assets 27.7%
Ret/ On Assets - 3 Yr. Avg. 0.9%
Return On Total Capital 15.9%
Ret/ On T. Cap. - 3 Yr. Avg. -6.4%
Return On Equity -17.2%
Return On Equity - 3 Yr. Avg. -150.9%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 91.8%
EBITDA Margin - 3 Yr. Avg. -177.3%
Operating Margin 81.3%
Oper. Margin - 3 Yr. Avg. -94.8%
Pre-Tax Margin 44.8%
Pre-Tax Margin - 3 Yr. Avg. -305.1%
Net Profit Margin 44.8%
Net Profit Margin - 3 Yr. Avg. -696.8%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 1.7%

INVA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the INVA stock intrinsic value calculation we used $217.217 million for the last fiscal year's total revenue generated by Innoviva. The default revenue input number comes from 0001 income statement of Innoviva. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our INVA stock valuation model: a) initial revenue growth rate of 14.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 11.7%, whose default value for INVA is calculated based on our internal credit rating of Innoviva, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Innoviva.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of INVA stock the variable cost ratio is equal to 10.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $11 million in the base year in the intrinsic value calculation for INVA stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6.6% for Innoviva.

Corporate tax rate of 27% is the nominal tax rate for Innoviva. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the INVA stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for INVA are equal to 0.1%.

Life of production assets of 0 years is the average useful life of capital assets used in Innoviva operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for INVA is equal to 28.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $-242.859 million for Innoviva - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 101.47 million for Innoviva is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Innoviva at the current share price and the inputted number of shares is $1.7 billion.

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COMPANY NEWS

▶ Moving Average Crossover Alert: Innoviva (INVA)   [Nov-09-18 07:56AM  Zacks]
▶ Innoviva: 3Q Earnings Snapshot   [Oct-31-18 04:31PM  Associated Press]
▶ Innoviva Reports Second Quarter 2018 Financial Results   [Jul-26-18 04:05PM  Business Wire]
▶ GlaxoSmithKline Is More Than Just a 5% Dividend Income Play   [Jul-17-18 12:33PM  InvestorPlace]
▶ Innoviva And Other Great Growth Stocks   [Jun-26-18 12:02PM  Simply Wall St.]
▶ 3 Top Healthcare Stocks to Buy in June   [Jun-15-18 10:21AM  Motley Fool]
▶ The Cheapest Drug Stocks to Buy Right Now   [Jun-11-18 07:38AM  Motley Fool]
▶ Top Cheap Stocks To Buy   [May-14-18 10:02AM  Simply Wall St.]
▶ Innoviva: 1Q Earnings Snapshot   [Apr-26-18 08:23AM  Associated Press]
▶ Flavor Of The Month: Innoviva And More   [Mar-29-18 10:02AM  Simply Wall St.]
▶ March Growth Stock Opportunities   [Mar-28-18 12:02PM  Simply Wall St.]
▶ Have Investors Priced In Innoviva Incs (NASDAQ:INVA) Growth?   [Mar-09-18 06:02PM  Simply Wall St.]
▶ New Strong Sell Stocks for February 21st   [Feb-21-18 08:27AM  Zacks]
▶ Why Innoviva Inc. Stock Jumped Tuesday   [Feb-13-18 04:05PM  Motley Fool]
▶ Innoviva beats Street 4Q forecasts   [Feb-08-18 07:07PM  Associated Press]
▶ Innoviva, Inc. to Host Earnings Call   [01:40PM  ACCESSWIRE]
▶ Does Innoviva Incs (NASDAQ:INVA) PE Ratio Warrant A Buy?   [Dec-30-17 05:45PM  Simply Wall St.]
▶ Innoviva Sees RS Rating Rise To 74   [Dec-27-17 03:00AM  Investor's Business Daily]
▶ Innoviva Earns Relative Strength Rating Upgrade   [Dec-22-17 03:00AM  Investor's Business Daily]
▶ ETFs with exposure to Innoviva, Inc. : December 21, 2017   [Dec-21-17 11:32AM  Capital Cube]
▶ Innoviva and Sarissa Implement Court Order   [Dec-19-17 04:05PM  Business Wire]
▶ ETFs with exposure to Innoviva, Inc. : December 1, 2017   [Dec-01-17 10:39AM  Capital Cube]
▶ Largest Shareholders of GlaxcoSmithKline   [Nov-08-17 03:00PM  Investopedia]
▶ Innoviva misses 3Q profit forecasts   [Oct-25-17 05:51PM  Associated Press]
▶ Innoviva, Inc. to Host Earnings Call   [08:10AM  ACCESSWIRE]
▶ ETFs with exposure to Innoviva, Inc. : October 20, 2017   [Oct-20-17 10:16AM  Capital Cube]
▶ ETFs with exposure to Innoviva, Inc. : October 9, 2017   [Oct-09-17 11:40AM  Capital Cube]
▶ Stocks With Rising Relative Price Strength: Innoviva   [Oct-06-17 03:00AM  Investor's Business Daily]
▶ Stocks With Rising Relative Price Strength: Innoviva   [Oct-03-17 03:00AM  Investor's Business Daily]
▶ ETFs with exposure to Innoviva, Inc. : September 28, 2017   [Sep-28-17 10:14AM  Capital Cube]
▶ Stocks Flashing Renewed Technical Strength: Innoviva   [03:00AM  Investor's Business Daily]
▶ FDA OKs Glaxo's inhaler, first one to combine 3 medicines   [Sep-19-17 04:40PM  Associated Press]

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