Innoviva, Inc. (NASDAQ:INVA) is one of the best cheap biotech stocks to buy now. Cantor Fitzgerald lifted the price target on Innoviva, Inc. (NASDAQ:INVA) to $32 from $31 on February 26, maintaining an Overweight rating on the shares. The firm told investors in a research note that the fiscal Q4 revenue of $114.6M surpassed expectations, driven primarily by continued XacDuro inventory builds in China, potentially boosting royalties and milestones in 2026+.
The rating update came after Innoviva, Inc. reported its fiscal Q4 and full year 2025 results on February 25, stating that the durable royalties portfolio generated $58.4 million in revenue for fiscal Q4 and $250.3 million for the full year. Management further reported that IST attained U.S. net product sales of $33.9 million for fiscal Q4 and $119.2 million for the full year, reflecting a 47% year-over-year growth. In addition, the IST product portfolio was strengthened with the U.S. FDA approval of NUZOLVENCE®, which is a first-in-class treatment for uncomplicated urogenital gonorrhea. Innoviva, Inc. also initiated a $125 million share repurchase program in fiscal Q4.
Innoviva, Inc. is involved in the development, commercialization, and financial management of biopharmaceuticals.
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This article is originally published at Insider Monkey.
