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Avenue Therapeutics, Inc. (ATXI) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
·2-min read

In the latest trading session, Avenue Therapeutics, Inc. (ATXI) closed at $9.75, marking a -1.52% move from the previous day. This change lagged the S&P 500's 0.56% loss on the day. Meanwhile, the Dow lost 1.39%, and the Nasdaq, a tech-heavy index, added 0.53%.

Prior to today's trading, shares of the company had lost 7.39% over the past month. This has lagged the Medical sector's loss of 1.33% and the S&P 500's loss of 1.79% in that time.

ATXI will be looking to display strength as it nears its next earnings release. On that day, ATXI is projected to report earnings of -$0.10 per share, which would represent year-over-year growth of 76.74%.

Investors should also note any recent changes to analyst estimates for ATXI. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ATXI is currently a Zacks Rank #2 (Buy).

The Medical - Drugs industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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Zacks Investment Research