Axovant (AXGT) Gains As Market Dips: What You Should Know
In the latest trading session, Axovant (AXGT) closed at $7.69, marking a +0.92% move from the previous day. This change outpaced the S&P 500's 0.07% loss on the day. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq lost 0.22%.
Heading into today, shares of the dementia drug developer had gained 15.11% over the past month, outpacing the Medical sector's gain of 0.45% and the S&P 500's gain of 4.58% in that time.
Investors will be hoping for strength from AXGT as it approaches its next earnings release. In that report, analysts expect AXGT to post earnings of -$1.15 per share. This would mark year-over-year growth of 48.48%.
Any recent changes to analyst estimates for AXGT should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 remained stagnant within the past month. AXGT is currently sporting 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 90, putting it in the top 36% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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