Orexigen Therapeutics, Inc. ( OREX ) was a big mover last session with its shares surging over 33% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company as the stock is now trading above the past one month's volatile price range of $3.27 to $4.51.
This biopharmaceutical company has seen has seen a mixed track record when it comes to estimate revisions of 1 increase and 2 decreases in the last 30 days. Meanwhile, the Zacks Consensus Estimate has moved higher over the same period. This implies solid trading potential for the company. So make sure to keep an eye on this stock going forward to see if yesterday's rally can turn into more strength down the road.
Orexigen currently holds a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Some better-ranked stocks worth considering in the biomedical industry are Affymetrix Inc. ( AFFX ), AMAG Pharmaceuticals, Inc. ( AMAG ) and Biogen Idec Inc. ( BIIB ). All the three stocks sport a Zacks Rank #1 (Strong Buy).
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