Ambit Biosciences Corp (NASDAQ:AMBI) was downgraded by equities research analysts at BMO Capital Markets to a “market perform” rating in a research note issued to investors on Wednesday, Stock Ratings Network reports.
Shares of Ambit Biosciences Corp (NASDAQ:AMBI) traded down 27.97% on Wednesday, hitting $9.22. The stock had a trading volume of 460,979 shares. Ambit Biosciences Corp has a 52 week low of $6.219 and a 52 week high of $21.44. The stock’s 50-day moving average is $14.66 and its 200-day moving average is $12.55. The company’s market cap is $164.8 million.
Ambit Biosciences Corp (NASDAQ:AMBI) last released its earnings data on Thursday, November 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by $0.06. The company had revenue of $7.68 million for the quarter, compared to the consensus estimate of $6.33 million. Analysts expect that Ambit Biosciences Corp will post $-1.49 EPS for the current fiscal year.
Ambit Biosciences Corporation is a biopharmaceutical company. The Company focused on the discovery, development and commercialization of drugs to treat unmet medical needs in oncology, autoimmune and inflammatory diseases by inhibiting kinases that are important drivers for those diseases.
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