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Strength Seen in Eton Pharmaceuticals, Inc. (ETON): Can Its 13.1% Jump Turn into More Strength?

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Zacks Equity Research
·2 min read
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Eton Pharmaceuticals, Inc. (ETON) shares soared 13.1% in the last trading session to close at $8.56. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6.2% loss over the past four weeks.

The successful launch of Alkindi Sprinkle and promotional activities related to the same might have driven the rally. Meanwhile, the company’s various pipeline candidates are currently under review in the United States with a decision from the FDA expected later in 2021, which is also a positive.

Price and Consensus

Price Consensus Chart for ETON
Price Consensus Chart for ETON

This company is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents a year-over-year change of +138%. Revenues are expected to be $12.05 million, up 11953% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Eton Pharmaceuticals, Inc., the consensus EPS estimate for the quarter has been revised 46% 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 ETON 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 >>>>


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