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Surging Rank, Surging Stock: Why Affymetrix (AFFX) is a Winner?

Zacks Equity Research

One company that should be on your radar is Affymetrix Inc. (AFFX). The provider of life science tools and molecular diagnostic products has seen its Zacks Rank surge over the past four weeks, moving from Neutral to its current position as a Strong Buy.

A key reason for this move has been the positive trend in the earnings estimate revisions picture. For AFFX’s full year estimate, we have seen 6 estimates go higher in the past 30 days, and there has been no downward revision over the same time frame. This trend has helped the consensus estimate to trend higher, going from 11 cents a share 30 days ago to its current level at 14 cents.

This positive shift in estimates has made some investors take notice and buy the stock. In fact, AFFX has seen some pretty solid trading lately, as the company has moved higher by 10.4% in the past month.

If Affymetrix can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put AFFX on your watch list for the future.

Other top-ranked stocks worth considering in this space include Actelion Ltd. (ALIOF), Biogen Idec Inc. (BIIB) and Cambrex Corporation. (CBM). All these carry a Zacks Rank #1 (Strong Buy).

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AFFYMETRIX INC (AFFX): Free Stock Analysis Report

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