One such stock that you may want to consider dropping is Puma Biotechnology, Inc. (NYSE: PBYI), 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 PBYI.
A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen 2 estimates moving down in the past 30 days, compared with no upward revisions. This trend has caused the consensus estimate to trend lower, going from a loss of $2.16 a share a month ago to its current level of a loss of $2.51.
Also, for the current quarter, Puma Biotechnology has seen 2 downward estimate revisions versus no revision in the opposite direction, dragging the consensus estimate down to a loss of 61 cents a share from a loss of 54 cents over the past 30 days.
The stock also has seen some pretty dismal trading lately, as the share price has dropped 12.68% 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 Med-Biomed/Gene sector, you may instead consider some better-ranked stocks including ANI Pharmaceuticals, Inc. (NASDAQ: ANIP), Gilead Sciences Inc. (NASDAQ: GILD) and Illumina Inc. (NASDAQ: ILMN). All these stocks hold a Zacks Rank #1 (Strong Buy) and may be better selections at this time.
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PUMA BIOTECHNLG (NYSE: PBYI): Free Stock Analysis Report
ANI PHARMACEUT (NASDAQ: ANIP): Free Stock Analysis Report
GILEAD SCIENCES (NASDAQ: GILD): Free Stock Analysis Report
ILLUMINA INC (NASDAQ: ILMN): Free Stock Analysis Report
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