Innoviva (INVA - Free Report) closed at $13.91 in the latest trading session, marking a +0.87% move from the prior day. This move outpaced the S&P 500's daily gain of 0.49%. At the same time, the Dow added 0.57%, and the tech-heavy Nasdaq gained 0.67%.
Heading into today, shares of the biopharmaceutical company had gained 3.92% over the past month, outpacing the Medical sector's gain of 0.98% and the S&P 500's gain of 3.03% in that time.
INVA will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.60, down 74.36% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for INVA. These revisions help to show the ever-changing nature of near-term business trends. 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. 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. INVA currently has a Zacks Rank of #3 (Hold).
Digging into valuation, INVA currently has a Forward P/E ratio of 10.29. Its industry sports an average Forward P/E of 25.33, so we one might conclude that INVA is trading at a discount comparatively.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.