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Innoviva (INVA) Dips More Than Broader Markets: What You Should Know
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Innoviva (INVA - Free Report) closed the most recent trading day at $12.77, moving -1.47% from the previous trading session. This move lagged the S&P 500's daily loss of 1.11%. Meanwhile, the Dow lost 0.85%, and the Nasdaq, a tech-heavy index, added 0.1%.
Prior to today's trading, shares of the biopharmaceutical company had lost 1.07% over the past month. This has lagged the Medical sector's gain of 3.73% and was narrower than the S&P 500's loss of 2.19% in that time.
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%. Our most recent consensus estimate is calling for quarterly revenue of $108.28 million, up 0.56% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.47 per share and revenue of $650.3 million. These totals would mark changes of +5.79% and +65.95%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Innoviva. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Innoviva is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Innoviva currently has a Forward P/E ratio of 3.73. This represents a discount compared to its industry's average Forward P/E of 14.97.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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) Dips More Than Broader Markets: What You Should Know
Innoviva (INVA - Free Report) closed the most recent trading day at $12.77, moving -1.47% from the previous trading session. This move lagged the S&P 500's daily loss of 1.11%. Meanwhile, the Dow lost 0.85%, and the Nasdaq, a tech-heavy index, added 0.1%.
Prior to today's trading, shares of the biopharmaceutical company had lost 1.07% over the past month. This has lagged the Medical sector's gain of 3.73% and was narrower than the S&P 500's loss of 2.19% in that time.
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%. Our most recent consensus estimate is calling for quarterly revenue of $108.28 million, up 0.56% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.47 per share and revenue of $650.3 million. These totals would mark changes of +5.79% and +65.95%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Innoviva. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Innoviva is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Innoviva currently has a Forward P/E ratio of 3.73. This represents a discount compared to its industry's average Forward P/E of 14.97.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.