Innoviva (INVA) vs Ultragenyx Pharmaceutical (RARE)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 10, 2026.
Summary
Innoviva (INVA) has outperformed Ultragenyx Pharmaceutical (RARE) over the past year, gaining 21.5% versus a loss of 51.1%. Over five years, INVA leads with a +27.7% price change compared with -80.7% for RARE. Innoviva is the larger company by market cap ($1.53 billion vs $1.53 billion), about 1.0 times the size, while Ultragenyx Pharmaceutical is growing revenue faster (+20.2% vs +14.7%).
On valuation, Innoviva trades at a lower forward P/E (9.6x vs 22.9x for Ultragenyx Pharmaceutical). Innoviva converts more of its revenue into profit, with a net margin of 65.9% versus -85.4%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | INVA | RARE |
|---|---|---|
| Share price | $21.21 | $15.48 |
| Market cap | $1.53B | $1.53B |
| 1-day change | +1.63% | +1.24% |
| YTD return | +6.10% | -32.70% |
| 1-year return | +21.55% | -51.11% |
| 5-year return | +27.69% | -80.65% |
| P/E ratio (TTM) | 4.96 | — |
| Forward P/E | 9.60 | 22.87 |
| EPS (TTM) | $4.28 | $-5.90 |
| Dividend yield | 0.00% | 0.00% |
| Annual dividend | $0.00 | $0.00 |
| Revenue (latest FY) | $411.33M | $673.00M |
| Revenue growth (YoY) | +14.67% | +20.18% |
| Net income (latest FY) | $271.17M | $-575.00M |
| Gross margin | 74.80% | — |
| Operating margin | 39.81% | -79.49% |
| Net margin | 65.92% | -85.44% |
| 52-week high | $25.15 | $39.89 |
| 52-week low | $16.52 | $12.73 |
| Distance from 52-week high | -15.67% | -61.19% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +65.02% | +73.06% |
| Average volume | 789.55K | 3.90M |
| Shares outstanding | 72.25M | 98.59M |
| Employees | 159 | 1,371 |
| Sector | Health Care | Healthcare |
| Industry | Biotechnology: Pharmaceutical Preparations | Biotechnology |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- INVA has outperformed RARE by 72.7 percentage points over the past year.
- Innoviva is more profitable, keeping 65.9 cents of every revenue dollar as net income versus -85.4 cents for Ultragenyx Pharmaceutical.
- Ultragenyx Pharmaceutical grew revenue faster in its latest fiscal year (+20.18% vs +14.67%).
- The two companies sit in different sectors: Innoviva in Health Care and Ultragenyx Pharmaceutical in Healthcare.
About Innoviva
INVA stock →Innoviva, Inc. operates as a biopharmaceutical company in the United States and internationally.
Health Care · Biotechnology: Pharmaceutical Preparations · 159 employees
About Ultragenyx Pharmaceutical
RARE stock →Ultragenyx Pharmaceutical Inc., a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Europe, the Middle East, Africa, and the Asia-Pacific. Its biologic products include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII; Dojolvi for the treatment of long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.
Healthcare · Biotechnology · 1,371 employees
INVA vs RARE FAQ
Which is bigger, Innoviva or Ultragenyx Pharmaceutical?
Innoviva (INVA) is larger, with a market capitalization of $1.53B compared with $1.53B for Ultragenyx Pharmaceutical (RARE).
Which stock has performed better over the past year, INVA or RARE?
INVA returned +21.55% over the past 12 months, compared with -51.11% for RARE (price return, excluding dividends). Past performance does not predict future results.
Are Innoviva and Ultragenyx Pharmaceutical in the same industry?
No. Innoviva is in the Health Care sector, while Ultragenyx Pharmaceutical is in Healthcare.