Innoviva (INVA - Free Report) closed at $14.05 in the latest trading session, marking a -0.07% move from the prior day. This change lagged the S&P 500's 0.04% loss on the day. At the same time, the Dow lost 0.1%, and the tech-heavy Nasdaq gained 0.05%.
Prior to today's trading, shares of the biopharmaceutical company had gained 12.57% over the past month. This has outpaced the Medical sector's gain of 5.44% and the S&P 500's gain of 2.48% in that time.
INVA will be looking to display strength as it nears its next earnings release. On that day, INVA is projected to report earnings of $0.60 per share, which would represent a year-over-year decline of 74.36%.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.03 per share and revenue of $257.94 million. These totals would mark changes of -42.49% and -1.17%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for INVA. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. INVA is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that INVA has a Forward P/E ratio of 6.93 right now. For comparison, its industry has an average Forward P/E of 24.92, which means INVA is trading at a discount to the group.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 61, putting it in the top 24% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.