U.S. markets closed
  • S&P 500

    4,173.85
    +61.35 (+1.49%)
     
  • Dow 30

    34,382.13
    +360.68 (+1.06%)
     
  • Nasdaq

    13,429.98
    +304.99 (+2.32%)
     
  • Russell 2000

    2,224.63
    +53.68 (+2.47%)
     
  • Crude Oil

    65.51
    +1.69 (+2.65%)
     
  • Gold

    1,844.00
    +20.00 (+1.10%)
     
  • Silver

    27.50
    +0.46 (+1.69%)
     
  • EUR/USD

    1.2146
    +0.0062 (+0.51%)
     
  • 10-Yr Bond

    1.6350
    -0.0330 (-1.98%)
     
  • GBP/USD

    1.4102
    +0.0050 (+0.36%)
     
  • USD/JPY

    109.3470
    -0.0870 (-0.08%)
     
  • BTC-USD

    50,136.62
    +577.70 (+1.17%)
     
  • CMC Crypto 200

    1,398.33
    +39.77 (+2.93%)
     
  • FTSE 100

    7,043.61
    +80.28 (+1.15%)
     
  • Nikkei 225

    28,084.47
    +636.46 (+2.32%)
     

Oncternal Therapeutics (ONCT) Soars 8.4%: Is Further Upside Left in the Stock?

  • Oops!
    Something went wrong.
    Please try again later.
Zacks Equity Research
·1 min read
  • Oops!
    Something went wrong.
    Please try again later.

Oncternal Therapeutics (ONCT) shares soared 8.4% in the last trading session to close at $9.39. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 52.8% gain over the past four weeks.

Increased optimism over upcoming pipeline readouts from Oncternal Therapeutics’s oncology pipeline drove the stock price higher.

Price and Consensus

Price Consensus Chart for ONCT
Price Consensus Chart for ONCT

This biopharmaceutical company is expected to post quarterly loss of $0.10 per share in its upcoming report, which represents a year-over-year change of +67.7%. Revenues are expected to be $1.3 million, up 124.7% 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 Oncternal Therapeutics, the consensus EPS estimate for the quarter has been revised 16.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ONCT going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 2 (Buy). 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

To read this article on Zacks.com click here.

Zacks Investment Research