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Innoviva (INVA) Gains As Market Dips: What You Should Know
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Innoviva (INVA - Free Report) closed the most recent trading day at $12.51, moving +1.71% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.15%. Meanwhile, the Dow lost 0.07%, and the Nasdaq, a tech-heavy index, lost 0.07%.
Investors will be hoping for strength from INVA as it approaches its next earnings release. The company is expected to report EPS of $0.40, down 4.76% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for INVA. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 has moved 0.58% lower. INVA currently has a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that INVA has a Forward P/E ratio of 7.22 right now. This valuation marks a discount compared to its industry's average Forward P/E of 14.12.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 198, putting it in the bottom 23% 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.
To follow INVA in the coming trading sessions, be sure to utilize Zacks.com.
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Innoviva (INVA) Gains As Market Dips: What You Should Know
Innoviva (INVA - Free Report) closed the most recent trading day at $12.51, moving +1.71% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.15%. Meanwhile, the Dow lost 0.07%, and the Nasdaq, a tech-heavy index, lost 0.07%.
Investors will be hoping for strength from INVA as it approaches its next earnings release. The company is expected to report EPS of $0.40, down 4.76% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for INVA. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 has moved 0.58% lower. INVA currently has a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that INVA has a Forward P/E ratio of 7.22 right now. This valuation marks a discount compared to its industry's average Forward P/E of 14.12.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 198, putting it in the bottom 23% 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.
To follow INVA in the coming trading sessions, be sure to utilize Zacks.com.