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Align Technology (ALGN) Jumps: Stock Moves 11.8% Higher

Align Technology Inc.ALGN was a big mover last session with its shares rising nearly 12% on the day. The upside came on the company's announcement of better-than-expected revenues and higher Clear Aligner shipments in the third quarter of 2015.Both revenues and earningsexceeded the company's expectations. This development led to far more shares changing hands yesterday than in a normal session. The move breaks the recent trend of the company as the stock is now trading above the past one month's volatile price range of $55.33 to $61.98.

This specialty pharmaceutical company has seen one positive estimate revision in the last 30 days. The Zacks Consensus Estimate has also moved higher over the same time frame. This implies solid trading potential for the stock. So make sure to keep an eye on this stock going forward to see if Friday's jump can turn into more strength down the road.

Align Technology currently has a Zacks Rank #3 (Hold).

Investors interested in the medical/dental supplies space may, however, consider Antares Pharma Inc. ATRS which carries a Zacks Rank #1 (Strong Buy).

Is ALGN going up? Or down? Predict to see what others think: Up or Down

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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