Surging Earnings Estimates Signal Good News for Endocyte (ECYT)

Zacks

Endocyte, Inc. (ECYT) is a medical company that 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 over the past four weeks, suggesting that Endocyte could be a solid choice for investors.
 
Current Quarter Estimates for ECYT
 
In the past 30 days, the consensus estimate trend has been pretty favorable, with estimates narrowing from a loss of 14 cents a share 30 days ago, to 11 cents a share today, making a significant move.
 
Current Year Estimates for ECYT
 
Meanwhile, Endocyte’s current year figures are also looking quite promising, with the consensus estimate trend narrowing from a loss of 43 cents per share 30 days ago to a loss of 34 cents per share today, an increase of 20.9%.
 
Bottom Line
 
The stock has also started to move higher lately, adding 5.2% 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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