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Ambit Biosciences Slumps: AMBI Falls 13.0% in Session

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Ambit Biosciences Corporation saw a big move last session, as the company’s shares fell by over 13% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for AMBI, as the stock is now down nearly 36% since Mar 19.

This slump shouldn’t be too much of a surprise to investors, as this biopharmaceutical company has seen 1 negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.   

AMBI currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.

Some better-ranked stocks in the same sector include Amgen Inc. (AMGN - Free Report) , Myriad Genetics Inc. (MYGN - Free Report) and Regeneron Pharmaceuticals, Inc. (REGN - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy).

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