AstraZeneca PLC (AZN - Free Report) was a big mover last session, as the company saw its shares rise more than 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. (This continues the recent uptrend for the company—as the stock is now up7.2% in the past one-month time frame.
The stock gained after the company reported that its experimental drug Tezepelumab succeeded to reduce the annual rate of serious asthma attacks, known as exacerbations.
The company has seen one positive estimate revision in the past few months, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few months, suggesting that more solid trading could be ahead for AstraZeneca. 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.
AstraZeneca currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
A better-ranked stock in the Large Cap Pharmaceuticals industry is H. Lundbeck A/S (HLUYY - Free Report) , 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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