Axovant (AXGT - Free Report) closed at $6.61 in the latest trading session, marking a +0.46% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.53%. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, lost 1.13%.
Prior to today's trading, shares of the dementia drug developer had lost 6.53% over the past month. This has lagged the Medical sector's loss of 0.4% and the S&P 500's gain of 3.59% in that time.
Wall Street will be looking for positivity from AXGT as it approaches its next earnings report date. The company is expected to report EPS of -$1.15, up 48.66% from the prior-year quarter.
Any recent changes to analyst estimates for AXGT should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. AXGT currently has a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.