Axovant (AXGT) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Axovant (AXGT) closed at $7.38, marking a +0.68% move from the previous day. This change outpaced the S&P 500's 0.46% gain on the day. Elsewhere, the Dow gained 0.9%, while the tech-heavy Nasdaq added 0.59%.
Heading into today, shares of the dementia drug developer had gained 51.13% over the past month, outpacing the Medical sector's gain of 1.03% and the S&P 500's gain of 4.04% in that time.
Investors will be hoping for strength from AXGT as it approaches 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 70.05%.
Investors should also note any recent changes to analyst estimates for AXGT. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 18.43% higher. AXGT is holding a Zacks Rank of #1 (Strong Buy) right now.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 62, putting 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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