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Innoviva (INVA) Gains As Market Dips: What You Should Know
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In the latest trading session, Innoviva (INVA - Free Report) closed at $13.47, marking a +1.43% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.45%. Elsewhere, the Dow lost 1.05%, while the tech-heavy Nasdaq lost 5.88%.
Coming into today, shares of the biopharmaceutical company had gained 2% in the past month. In that same time, the Medical sector gained 3.1%, while the S&P 500 lost 1.68%.
Investors will be hoping for strength from Innoviva as it approaches its next earnings release. On that day, Innoviva is projected to report earnings of $0.54 per share, which would represent 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.
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.
Investors might also notice recent changes to analyst estimates for Innoviva. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Innoviva is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Innoviva's current valuation metrics, including its Forward P/E ratio of 3.83. For comparison, its industry has an average Forward P/E of 15.08, 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 145, putting it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Innoviva (INVA) Gains As Market Dips: What You Should Know
In the latest trading session, Innoviva (INVA - Free Report) closed at $13.47, marking a +1.43% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.45%. Elsewhere, the Dow lost 1.05%, while the tech-heavy Nasdaq lost 5.88%.
Coming into today, shares of the biopharmaceutical company had gained 2% in the past month. In that same time, the Medical sector gained 3.1%, while the S&P 500 lost 1.68%.
Investors will be hoping for strength from Innoviva as it approaches its next earnings release. On that day, Innoviva is projected to report earnings of $0.54 per share, which would represent 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.
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.
Investors might also notice recent changes to analyst estimates for Innoviva. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Innoviva is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Innoviva's current valuation metrics, including its Forward P/E ratio of 3.83. For comparison, its industry has an average Forward P/E of 15.08, 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 145, putting it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.