Investors are typically satisfied when their portfolio gains 10 percent a year which in most years is likely superior when compared to the most commonly used benchmarks such as the Dow Jones, S&P 500 or Nasdaq Composite Index.
When an investor sees a particular stock move higher by a double-digit percentage point in one day then it’s usually reason to celebrate.
These two stocks accomplished such a feat on Wednesday.
Corbus Pharma Soars On No Notable News
It is unusual but not uncommon for small-cap stocks to surge on no notable news.
This is exactly what happened to Corbus Pharmaceuticals (NASDAQ: CRBP), a clinical-stage pharmaceutical company that focuses on rare and uncommon chronic and serious inflammatory and fibrotic diseases.
Towards the end of the the trading session, shares were higher by nearly 35 percent on substantially higher than normal volume. More than 10 million shares have traded hand, more than 10 times its average daily volume of just 1.15 million.
Does someone know something the rest of the market doesn’t? It may seem that way although the company has been on the receiving end of favorable recommendations from notable Wall Street firms.
On Tuesday, analysts at Cantor Fitzgerald slapped a $17 rating on the stock with a Buy rating – implying the stock could more than double from the $7.02 it closed at on Tuesday.
Including Wednesday’s strong gains, shares of Corbus are higher by a staggering 460 percent since the start of 2016. If there is one thing better than a double-digit percentage point gain then it most certainly is a triple digit percentage point gain.
Acacia Wows The Street With Its Preliminary Results
Acacia Communications (NASDAQ: ACIA), a $4 billion telecom company that delivers optical interconnect products, saw its stock surge higher by more than 11 percent after it provided an update to its third quarter outlook.
The company said in a regulatory filing as part of a follow-on public issue that it expects its revenue for the third quarter to fall in a range of $130 million to $133 million and expects to earn $0.68 to $0.75 per share.
Investors and traders were particularly optimistic on the company’s outlook considering it represents an improvement from the guidance management provided on September 26. At that time, the company said that it expects to earn $0.58 to $0.67 per share on revenue of $127 million to $131 million.
Much like Corbus’ stock, Acacia’s stock has shown a triple-digit percentage point gain since the start of 2016 as it is higher by nearly 275 percent.