Endocyte, Inc. (ECYT), a biopharmaceutical company, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on ECYT’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames, suggesting that Endocyte could be a solid choice for investors.
Current Quarter Estimates for ECYT
There was no upward revision in the past 30 days for Endocyte, while estimates narrowed from a loss of 16 cents a share to a loss of 15 cents today.
Current Year Estimates for ECYT
Meanwhile, Endocyte’s current year figures are also looking quite promising with 4 estimates -- out of 7 total -- moving higher in the past month. The consensus estimate trend has also seen a boost for this time frame, narrowed from a loss of 60 cents per share 30 days ago to a loss of 35 cents per share today, an increase of 40.5%.
The stock has also started to move higher lately, adding 68.6% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.
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(We are reissuing this article to correct a mistake. The original article, issued yesterday, April 3, 2014, should no longer be relied upon.)Read the Full Research Report on ECYT
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