Bionano Genomics, Inc. (BNGO) closed at $7.15 in the latest trading session, marking a -1.38% move from the prior day. This change lagged the S&P 500's 0.58% gain on the day.
Coming into today, shares of the company had gained 20.43% in the past month. In that same time, the Medical sector gained 2.01%, while the S&P 500 gained 2.17%.
Investors will be hoping for strength from BNGO as it approaches its next earnings release. The company is expected to report EPS of -$0.05, up 44.44% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.3 million, up 179.66% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.19 per share and revenue of $15.6 million. These totals would mark changes of +51.28% and +83.44%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for BNGO. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. BNGO is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 210, putting it in the bottom 18% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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