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Ambit Biosciences Slumps: AMBI Falls 7.1% in Session

Zacks Equity Research

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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AMBIT BIOSCIENCES CORP (AMBI): Free Stock Analysis Report

DYNAVAX TECHNOLOGIES CP (DVAX): Free Stock Analysis Report

GILEAD SCIENCES INC (GILD): Free Stock Analysis Report

BIOGEN IDEC INC (BIIB): Free Stock Analysis Report

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