Aduro Biotech (ADRO) closed the most recent trading day at $2.54, moving +1.2% from the previous trading session. This change outpaced the S&P 500's 1.51% loss on the day. Meanwhile, the Dow lost 1.69%, and the Nasdaq, a tech-heavy index, lost 1.53%.
Heading into today, shares of the drug developer had lost 24.63% over the past month, lagging the Medical sector's loss of 10.33% and the S&P 500's loss of 18.13% in that time.
Wall Street will be looking for positivity from ADRO as it approaches its next earnings report date. The company is expected to report EPS of -$0.11, up 62.07% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $8.81 million, up 123.6% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.71 per share and revenue of $18.24 million. These totals would mark changes of +31.07% and +5.67%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for ADRO. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 has moved 8.03% higher. ADRO currently has 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 30, which puts it in the top 12% 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.