In the latest trading session, Innoviva (INVA) closed at $14.36, marking a -1.64% move from the previous day. This move lagged the S&P 500's daily loss of 0.21%. At the same time, the Dow lost 0.58%, and the tech-heavy Nasdaq lost 0.46%.
INVA will be looking to display strength as it nears its next earnings release. In that report, analysts expect INVA to post earnings of $0.32 per share. This would mark a year-over-year decline of 5.88%.
Any recent changes to analyst estimates for INVA should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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. Within the past 30 days, our consensus EPS projection has moved 12.74% higher. INVA currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, INVA is holding a Forward P/E ratio of 8.25. This valuation marks a discount compared to its industry's average Forward P/E of 14.48.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 13, putting it in the top 6% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Innoviva, Inc. (INVA) : Free Stock Analysis Report
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