One such stock that you may want to consider dropping is TG Therapeutics, Inc. (TGTX), which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #4 (Sell) further confirms weakness in TGTX.
A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen 3 estimates moving down in the past 30 days, compared with no upward revision. This trend has caused the consensus estimate to trend lower, going from a loss of $1.05 a share a month ago to its current level of a loss of $1.36.
Also, for the current quarter, TG Therapeutics has seen 1 downward estimate revisions versus no revisions in the opposite direction, dragging the consensus estimate down to a loss of 35 cents a share from a loss of 28 cents over the past 30 days.
The stock also has seen some pretty dismal trading lately, as the share price has dropped 26.7% in the past month.
So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don’t have a long time horizon to wait.
If you are still interested in the healthcare sector, you may instead consider some better-ranked stocks including Abaxis, Inc. (ABAX), AtriCure, Inc. (ATRC) and Cardiovascular Systems Inc. (CSII). All these stocks hold a Zacks Rank #2 (Buy) and may be better selections at this time.
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