Can Pharmacyclics (PCYC) Run Higher on Strong Earnings Estimate Revisions? (Revised)

Pharmacyclics Inc. (PCYC), 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 PCYC’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Pharmacyclics could be a solid choice for investors.

Current Quarter Estimates for PCYC

In the past 30 days, 8 estimates have gone higher for Pharmacyclics with no downward revision in the same time period. The trend has been pretty favorable too, with estimates increasing from 31 cents per share 30 days ago, to 72 cents a share today, a significant move upward.

Current Year Estimates for PCYC

Meanwhile, Pharmacyclics’ current year figures have seen 8 estimates moving higher in the past month, compared to no downward revision. The consensus estimate trend has also seen a boost for this time frame, increasing from 28 cents per share 30 days ago to 93 cents per share today, a substantial increase.

Bottom Line

The stock has also started to move higher lately, adding 6.4% 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 on Dec 3, 2014, should no longer be relied upon.)




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