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Mylan (MYL) Jumps: Stock Rises 7.1%

Zacks Equity Research

Mylan N.V. MYL was a big mover last session, as the company saw its shares rise more than 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 $27.23 to $29.87 in the past one-month time frame.

The move came after reports that the company’s generic version of asthma treatment drug, Advair, obtained U.S. Food and Drug Administration (FDA) approval.  

The company has seen two 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.

Mylan currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.

Mylan N.V. Price

Mylan N.V. Price | Mylan N.V. Quote

Investors interested in the Medical - Generic Drugs industry may consider Assembly Biosciences, Inc. ASMB, which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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