Axovant (AXGT) closed at $6.67 in the latest trading session, marking a +1.52% move from the prior day. This move outpaced the S&P 500's daily loss of 0.16%. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq lost 0.44%.
Prior to today's trading, shares of the dementia drug developer had gained 6.14% over the past month. This has outpaced the Medical sector's loss of 0.73% and the S&P 500's gain of 4% in that time.
AXGT will be looking to display strength as it nears its next earnings release. In that report, analysts expect AXGT to post earnings of -$1.34 per share. This would mark year-over-year growth of 65.1%.
It is also important to note the recent changes to analyst estimates for AXGT. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 6.41% higher. AXGT is currently sporting a Zacks Rank of #1 (Strong Buy).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 48, putting it in the top 19% 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.
To follow AXGT in the coming trading sessions, be sure to utilize Zacks.com.
Axovant Sciences Ltd. (AXGT): Free Stock Analysis Report
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