Galena Biopharma, Inc.GALE was a big mover last session, as its shares rose over 15% on the day. The upside was driven by the announcement that the company's Phase 3, PRESENT clinical trial on NeuVax™ (nelipepimut-S) has achieved 70th qualifying disease free survival (DFS) event. This also led to far more shares changing hands than in a normal session. Yesterday's rally breaks the trend for the company, as the stock is now trading above the volatile price range of $0.80 to $1.15 in the past one-month time frame.
Over the last 30 days, the company witnessed one positive and two negative estimate revisions. Meanwhile, the Zacks Consensus Estimate moved higher, suggesting solid trading ahead. So make sure to keep an eye on this stock going forward to see if yesterday's jump can turn into more strength down the road.
Galena Biopharma currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
A better-ranked biomedical stock is Anika Therapeutics Inc. ANIK with a Zacks Rank #1 (Strong Buy).