Pharmacyclics Inc. (PCYC) saw a big move last session, as the company’s shares fell by nearly 8% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for PCYC, as the stock is now down over 30% since in the past one-month time frame.
This slump shouldn’t be too much of a surprise to investors, as the company in the Medical-Drugs industry has seen 2 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
PCYC currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Some better-ranked stocks in the same space include Grifols, S.A. (GRFS), ImmunoGen Inc. (IMGN) and Questcor Pharmaceuticals, Inc. (QCOR). All these stocks carry a Zacks Rank #1 (Strong Buy).
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