Innoviva: Oppenheimer initiates coverage on Outperform, PT $35

Innoviva: Oppenheimer initiates coverage on Outperform, PT $35

Oppenheimer & Co. has initiated coverage on Innoviva, Inc. (NASDAQ: INVA), rating the stock "Outperform" and setting a price target of $35. The brokerage firm cited the company's robust financial performance and promising pipeline of products, particularly ZEVTERA and zoliflodacin, as key drivers behind the bullish outlook.

Innoviva reported strong financial results for the second quarter of 2025, with gross royalty revenue from Glaxo Group Limited (GSK) totaling $67.3 million, up from $67.2 million in the same period last year. The company's net product sales also surged to $35.5 million, reflecting a 54% year-over-year growth in U.S. net product sales [1].

The launch of ZEVTERA in the U.S. in July 2025 and the FDA's acceptance of the zoliflodacin New Drug Application (NDA) with Priority Review have been significant milestones for Innoviva. ZEVTERA is the first and only FDA-approved cephalosporin for MRSA-related Staphylococcus aureus bacteremia, while zoliflodacin, if approved, could be the first new antibiotic in decades for the treatment of gonorrhea [1].

Oppenheimer's positive outlook on Innoviva is supported by the company's diversified business model, which includes a core royalties portfolio, a leading critical care and infectious disease platform known as Innoviva Specialty Therapeutics (IST), and a portfolio of strategic investments in healthcare assets. The brokerage firm expects Innoviva to continue delivering strong financial results and growth opportunities in the current market environment [1].

References:
[1] https://www.biospace.com/press-releases/innoviva-reports-second-quarter-2025-financial-results-highlights-recent-company-progress