OncoGenex Pharmaceuticals, Inc. (OGXI) was a big mover last session, as the company saw its shares rise almost 9% on the day. The upside was driven by the announcement of positive data from the Phase 2 Borealis-1™ trial evaluating the company’s candidate – apatorsen 600mg. This also led to far more shares changing hands than in a normal session. Yesterday’s rally also breaks the recent trend for the company, as the stock is now trading above the volatile price range of $1.77 to $2.28 in the past one-month time frame.
Over the last 30 days, the company witnessed a mixed track record of one positive and one negative estimate revision while the Zacks Consensus Estimate moved higher, suggesting more 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.
OncoGenex Pharmaceuticals currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
A better-ranked stock in the med-drugs industry is Valeant Pharmaceuticals International, Inc. (VRX) with a Zacks Rank #1 (Strong Buy).
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