Zacks Investment Research

Exelixis, Inc. (NASDAQ:EXEL) was a big mover last session, as the company saw its shares rise more than 17% 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 volatile price range of $23.35 to $28.27 in the past one-month time frame.

The move came after the company announced that its global phase 3 CELESTIAL trial met the primary endpoint to heal liver cancer patients with Cabometyx, which will provide significant improvement in comparison to placebo. Also, the company obtained the U.S. Food and Drug Administration approval for supplemental New Drug Application (sNDA) for the treatment of advanced renal cell carcinoma.

The company has seen one positive estimate revision in the past one month, while its Zacks Consensus Estimate for the current quarter has remained unchanged. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.

Exelixis currently has a Zacks Rank #3 (Hold), while its Earnings ESP is negative.

A better-ranked stock in the Medical - Biomedical and Genetics industry is Axovant Sciences Ltd. (NASDAQ:AXON) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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