Ambit Biosciences Corporation (AMBI) saw a big move last session, as the company’s shares fell by over 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for AMBI, as the stock is now down 28.9% in the past one-month time frame.
This biotechnology company has seen a flat track record when it comes to current year estimate revisions over the past few weeks, and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
Ambit Biosciences currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.0%.
Some better-ranked stocks in the same sector include Biogen Idec (BIIB), Dynavax Technologies Corporation (DVAX) and Gilead Sciences Inc. (GILD). All these stocks hold a Zacks Rank #2 (Buy).
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