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Innoviva (INVA) Gains But Lags Market: What You Should Know

Zacks Equity Research
·2-min read

Innoviva (INVA) closed the most recent trading day at $13.92, moving +0.43% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.37%. Elsewhere, the Dow gained 2.05%, while the tech-heavy Nasdaq added 0.78%.

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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.

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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. The Zacks Consensus EPS estimate has moved 12.74% higher within the past month. INVA is holding a Zacks Rank of #1 (Strong Buy) right now.

Investors should also note INVA's current valuation metrics, including its Forward P/E ratio of 7.83. For comparison, its industry has an average Forward P/E of 15.08, which means INVA is trading at a discount to the group.

The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 17, which puts it in the top 7% 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.


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Zacks Investment Research