Innoviva (INVA - Free Report) closed at $13.03 in the latest trading session, marking a -1.06% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.2%. Meanwhile, the Dow lost 1.1%, and the Nasdaq, a tech-heavy index, lost 2.86%.
Coming into today, shares of the biopharmaceutical company had gained 2.25% in the past month. In that same time, the Medical sector gained 0.3%, while the S&P 500 lost 4.77%.
Innoviva will be looking to display strength as it nears its next earnings release. In that report, analysts expect Innoviva to post earnings of $0.54 per share. This would mark a year-over-year decline of 1.82%. Meanwhile, our latest consensus estimate is calling for revenue of $108.28 million, up 0.56% from the prior-year quarter.
INVA's full-year Zacks Consensus Estimates are calling for earnings of $3.47 per share and revenue of $650.3 million. These results would represent year-over-year changes of +5.79% and +65.95%, respectively.
Any recent changes to analyst estimates for Innoviva should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Innoviva is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Innoviva has a Forward P/E ratio of 3.8 right now. For comparison, its industry has an average Forward P/E of 15.09, which means Innoviva is trading at a discount to the group.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 146, putting it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Innoviva (INVA - Free Report) closed at $13.03 in the latest trading session, marking a -1.06% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.2%. Meanwhile, the Dow lost 1.1%, and the Nasdaq, a tech-heavy index, lost 2.86%.
Coming into today, shares of the biopharmaceutical company had gained 2.25% in the past month. In that same time, the Medical sector gained 0.3%, while the S&P 500 lost 4.77%.
Innoviva will be looking to display strength as it nears its next earnings release. In that report, analysts expect Innoviva to post earnings of $0.54 per share. This would mark a year-over-year decline of 1.82%. Meanwhile, our latest consensus estimate is calling for revenue of $108.28 million, up 0.56% from the prior-year quarter.
INVA's full-year Zacks Consensus Estimates are calling for earnings of $3.47 per share and revenue of $650.3 million. These results would represent year-over-year changes of +5.79% and +65.95%, respectively.
Any recent changes to analyst estimates for Innoviva should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Innoviva is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Innoviva has a Forward P/E ratio of 3.8 right now. For comparison, its industry has an average Forward P/E of 15.09, which means Innoviva is trading at a discount to the group.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 146, putting it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
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