KZR vs ARQT vs HRMY vs INVA vs PRGO vs JPM

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 JPMorgan Chase & Co. at 16. 0x. On forward P/E, Perrigo Company plc is actually cheaper at 5. 2x — notably different from the trailing picture, reflecting expected earnings growth. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Innoviva, Inc. wins at 0. 62x versus JPMorgan Chase & Co. 's 0. 81x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.

Over the past 5 years, JPMorgan Chase & Co.

(JPM) delivered a total return of +118. 2%, compared to -98. 7% for Kezar Life Sciences, Inc. (KZR). Over 10 years, the gap is even starker: JPM returned +465. 8% 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 3% for JPMorgan Chase & Co. — 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.

The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.

By this metric, Innoviva, Inc. (INVA) is the more undervalued stock at a PEG of 0. 62x versus JPMorgan Chase & Co. 's 0. 81x. A PEG below 1. 0 is traditionally considered the threshold for growth-adjusted undervaluation. 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), JPM (1. 9% yield) pay 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.

These companies operate in different sectors (KZR (Healthcare) and ARQT (Healthcare) and HRMY (Healthcare) and INVA (Healthcare) and PRGO (Healthcare) and JPM (Financial Services)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.

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; JPM is a large-cap deep-value stock. PRGO, JPM pay 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.