Innoviva Can Offer 25% Upside From Current Levels

Innoviva Can Offer 25% Upside From Current Levels

We believe that Innoviva stock (NASDAQ: INVA), a pharmaceuticals royalty management company, is a good buying opportunity at the present time. INVA stock trades near $12 currently and it is, in fact, down 17% from its pre-Covid high of $15 in February 2020 – just before the coronavirus pandemic hit the world. INVA stock has rallied 54% since its March lows of $8, compared to 65% gains for the S&P 500. The underperformance can largely be attributed to lower than estimated Q3 revenue and earnings. Looking forward, with economies opening up gradually, the company will likely see improved sales growth, driving the stock higher from here, in our view. We compare Innoviva stock performance during the current financial crisis with that during the 2008 recession in our interactive dashboard.

2020 Coronavirus Crisis

Timeline of 2020 Crisis So Far:



12/12/2019: Coronavirus cases first reported in China

1/31/2020: WHO declares a global health emergency.

2/19/2020: Signs of effective containment in China and hopes of monetary easing by major central banks helps S&P 500 reach a record high

3/23/2020: S&P 500 drops 34% from the peak level seen on Feb 19, as COVID-19 cases accelerate outside China. Doesn't help