Idenix Pharmaceuticals Inc. (IDIX) was a big mover last session, as its shares rose over 229% 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 near-flat trend for the company, as the stock is now trading above the volatile price range of $5.12 to $6.90 in the past one-month timeframe. The rally came on the back of Merck & Co. Inc.'s decision to acquire the company for $3.85 billion.
In the last 30 days, the company witnessed two negative estimate revisions and the Zacks Consensus Estimate also moved lower, suggesting trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday’s move higher lasts.
Idenix Pharmaceuticals currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Other better-ranked stocks in the medical sector include Gilead Sciences Inc. (GILD), ANI Pharmaceuticals, Inc. (ANIP) and Illumina Inc. (ILMN). All three sport a Zacks Rank #1 (Strong Buy).
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