In the latest trading session, Axovant closed at $7.53, marking a -1.31% move from the previous day. This move lagged the S&P 500's daily of 0%. At the same time, the Dow lost 0.19%, and the tech-heavy Nasdaq gained 0.07%.
Prior to today's trading, shares of the dementia drug developer had gained 14.22% over the past month. This has outpaced the Medical sector's gain of 0.55% and the S&P 500's gain of 4.25% in that time.
AXGT will be looking to display strength as it nears its next earnings release. On that day, AXGT is projected to report earnings of -$1.15 per share, which would represent year-over-year growth of 48.66%.
Investors should also note any recent changes to analyst estimates for AXGT. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. AXGT currently has a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 91, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.