The 91 Relative Strength Rating means that Innoviva stock price has outperformed 91% of all stocks over the past year. Over 100 years of market history reveals that the best stocks often have an 80 or better RS Rating at the beginning of a new price run.
Innoviva Stock In Buy Range
On Oct. 28, 2020, Innoviva stock dropped to an intraday low of 9.21. It’s risen about 55% in a bit less than a year, to 16.89 in Friday afternoon trading, down a tiny fraction for the day.
Additionally, Innoviva stock is within a buy range after climbing above a 16.82 entry in a flat base. The proper buying range is up to 5% above the initial entry. Once a stock moves above that range, it’s best to hold off investing and wait for it to set up another buying opportunity.
Among other key ratings, Burlingame, Calif.-based Innoviva holds a strong 90 EPS Rating, on a 1-99 scale with 99 tops. This points to strong recent and long-term profit growth. Its 93 Composite Rating for small-cap Innoviva stock shows market leadership. Although its stock price has risen rapidly, big money investors will need more convincing before they plough in. Innoviva has a D+ Accumulation/Distribution Rating, on an A+ to E scale with A+ tops. This indicates institutional investors are selling more shares than buying.
Earnings Growth Grew Over Past Year
Meanwhile, earnings grew 30% last quarter to 90 cents per share. The prior three quarters it reported -28%, 14 and then 42% EPS growth. Sales in its most recent quarter rose 28% to $100.8 million, its first $100 million-plus quarter. The next quarterly results are expected on or around Oct. 28.
The company holds the No. 3 rank among its peers in the Medical-Biomed/Biotech industry group. Horizon Therapeutics (HZNP) and Alkermes (ALKS) are also among the top 5 highly rated stocks within the group.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength. This exclusive rating from Investor’s Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock’s price performance over the trailing 52 weeks compares to all the other stocks in our database.
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