KZR vs ARQT vs HRMY vs INVA vs PRGO

For growth investors, Arcutis Biotherapeutics, Inc.

(ARQT) is the stronger pick with 91. 3% revenue growth year-over-year, versus -2. 8% for Perrigo Company plc (PRGO). Innoviva, Inc. (INVA) offers the better valuation at 6. 9x trailing P/E (6. 4x forward), making it the more compelling value choice. Analysts rate Arcutis Biotherapeutics, Inc. (ARQT) a "Buy" — based on 12 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, Innoviva, Inc.

(INVA) is the cheapest at 6. 9x versus Harmony Biosciences Holdings, Inc. at 12. 7x. On forward P/E, Perrigo Company plc is actually cheaper at 5. 2x — notably different from the trailing picture, reflecting expected earnings growth.

Over the past 5 years, Innoviva, Inc.

(INVA) delivered a total return of +77. 9%, compared to -98. 7% for Kezar Life Sciences, Inc. (KZR). Over 10 years, the gap is even starker: INVA returned +108. 1% versus KZR's -99. 6%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Innoviva, Inc.

(INVA) is the lower-risk stock at 0. 06β versus Arcutis Biotherapeutics, Inc. 's 1. 45β — meaning ARQT is approximately 2429% more volatile than INVA relative to the S&P 500. On balance sheet safety, Arcutis Biotherapeutics, Inc. (ARQT) carries a lower debt/equity ratio of 3% versus 135% for Perrigo Company plc — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Arcutis Biotherapeutics, Inc.

(ARQT) is pulling ahead at 91. 3% versus -2. 8% for Perrigo Company plc (PRGO). On earnings-per-share growth, the picture is similar: Innoviva, Inc. grew EPS 816. 7% year-over-year, compared to -723. 2% for Perrigo Company plc. Over a 3-year CAGR, ARQT leads at 367. 3% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Innoviva, Inc.

(INVA) is the more profitable company, earning 63. 8% net margin versus -33. 5% for Perrigo Company plc — meaning it keeps 63. 8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: INVA leads at 38. 5% versus -3. 3% for ARQT. At the gross margin level — before operating expenses — ARQT leads at 90. 2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

On forward earnings alone, Perrigo Company plc (PRGO) trades at 5.

2x forward P/E versus 122. 5x for Arcutis Biotherapeutics, Inc. — 117. 3x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for PRGO: 229. 4% to $36. 20.

In this comparison, PRGO (10.

5% yield) pays a dividend. KZR, ARQT, HRMY, INVA do not pay a meaningful dividend and should not be held primarily for income.

For long-horizon retirement investors, Innoviva, Inc.

(INVA) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 06), +108. 1% 10Y return). Both have compounded well over 10 years (INVA: +108. 1%, ARQT: +11. 8%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

In terms of investment character: KZR is a small-cap quality compounder stock; ARQT is a small-cap high-growth stock; HRMY is a small-cap high-growth stock; INVA is a small-cap high-growth stock; PRGO is a small-cap income-oriented stock. PRGO pays a dividend while KZR, ARQT, HRMY, INVA do not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.