Gilead Sciences, Inc. (GILD Quick QuoteGILD - Free Report) was a big mover last session, as the company saw its shares rise nearly 7% 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 $63.20 to $72.90 in the past one-month time frame.

The upmove came presumably due to initiation of two phase 3 studies to evaluate its antiviral candidate, remdesivir, as a treatment for recent coronavirus outbreak.

The company has seen five negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Gilead Sciences currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is 0.00%.

Investors interested in the Medical - Biomedical and Genetics industry may consider a better-ranked stock like Agenus Inc. (AGEN Quick QuoteAGEN - Free Report) , which 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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