Aduro Biotech (ADRO - Free Report) closed at $2.53 in the latest trading session, marking a +1.2% move from the prior day. The stock outpaced the S&P 500's daily loss of 2.93%. Elsewhere, the Dow lost 3.04%, while the tech-heavy Nasdaq lost 0.27%.
Coming into today, shares of the drug developer had lost 35.4% in the past month. In that same time, the Medical sector lost 24.66%, while the S&P 500 lost 31.71%.
ADRO will be looking to display strength as it nears its next earnings release. On that day, ADRO is projected to report earnings of -$0.11 per share, which would represent year-over-year growth of 62.07%. Meanwhile, our latest consensus estimate is calling for revenue of $8.81 million, up 123.6% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.71 per share and revenue of $18.24 million, which would represent changes of +31.07% and +5.67%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for ADRO. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 8.03% higher within the past month. ADRO is currently sporting a Zacks Rank of #2 (Buy).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 25% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.