Nutriband Inc. (NTRB) Soars 6%: Is Further Upside Left in the Stock?
Nutriband Inc. (NTRB) shares soared 6% in the last trading session to close at $16. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 19.5% loss over the past four weeks.
The company has a robust portfolio of transdermal pharmaceutical products, which might have been driving the rally. Its lead product is abuse deterrent fentanyl transdermal system which is being developed to provide clinicians/patients with an abuse deterrent transdermal fentanyl product for use in managing chronic pain requiring opioid therapy. This is also a positive.
This company is expected to post break-even quarterly earnings per share in its upcoming report, which represents a year-over-year change of +100%. Revenues are expected to be $0.51 million, up 325% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Nutriband Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NTRB going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Nutriband Inc. (NTRB) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
