Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

One company to watch right now is Harmony Biosciences (HRMY Quick QuoteHRMY - Free Report) . HRMY is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A.

We should also highlight that HRMY has a P/B ratio of 3.27. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. This stock's P/B looks solid versus its industry's average P/B of 3.29. Over the past year, HRMY's P/B has been as high as 4.22 and as low as 3.04, with a median of 3.42.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. HRMY has a P/S ratio of 2.95. This compares to its industry's average P/S of 5.84.

These figures are just a handful of the metrics value investors tend to look at, but they help show that Harmony Biosciences is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, HRMY feels like a great value stock at the moment.