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MARKETS LIVE BLOG:

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Why Aptose Biosciences (APTO) Could Be Positioned for a Slump

Zacks Equity Research
Updated

Similar to wise buying decisions, exiting certain underperformers at the right time helps maximize portfolio returns. Selling off losers can be difficult, but if both the share price and estimates are falling, it could be time to get rid of the security before more losses hit your portfolio.

One such stock that you may want to consider dropping is Aptose Biosciences Inc. APTO, 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 #5 (Strong Sell) further confirms weakness in APTO.

A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen one estimate 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 72 cents a share a month ago to its current level of a loss of 88 cents.

Also, for the current quarter, Aptose Biosciences has seen one downward estimate revisions versus no revisions in the opposite direction, dragging the consensus estimate down to a loss of 20 cents a share from a loss of 17 cents over the past 30 days.  

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The stock also has seen some pretty dismal trading lately, as the share price has dropped 19.2% in the past month.

Aptose Biosciences, Inc. Price and Consensus

Aptose Biosciences, Inc. Price and Consensus | Aptose Biosciences, Inc. Quote

 

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 Medical - Biomedical and Genetics industry, you may instead consider a better-ranked stock - Illumina, Inc. ILMN. The stock currently holds a Zacks Rank #1 (Strong Buy) and may be a better selection at this time. You can see the complete list of today’s Zacks #1 Rank stocks here.

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Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.

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Illumina, Inc. (ILMN) : Free Stock Analysis Report
 
Aptose Biosciences, Inc. (APTO) : Free Stock Analysis Report
 
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Zacks Investment Research