One company that should be on your radar is Actavis plc (ACT). The stock of this specialty pharmaceutical company has seen its Zacks Rank surge over the past four weeks, moving from Neutral territory to its current position as a Strong Buy.
A key reason for this move has been the positive trend in the earnings estimate revisions picture. For ACT’s full year estimate, we have seen 3 estimates go higher in the past 30 days, compared to none lower. This trend has helped the consensus estimate to trend higher, going from $9.33 a share a month ago to its current level at $9.35.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, ACT has seen some pretty solid trading lately, as the company has moved higher by 0.2% in the past month.
If Actavis can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put ACT on your watch list for the future.
Other top-ranked stocks worth considering in this space include Endocyte, Inc. (ECYT), Ariad Pharmaceuticals Inc. (ARIA) and Biodel Inc. (BIOD). While Endocyte carries a Zacks Rank #1 (Strong Buy) Ariad and Biodel carry Zacks Rank #2 (Buy).
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ACTAVIS PLC NEW (ACT): Free Stock Analysis Report
ARIAD PHARMACEUTICALS INC (ARIA): Free Stock Analysis Report
BIODEL INC (BIOD): Free Stock Analysis Report
ENDOCYTE INC (ECYT): Free Stock Analysis Report
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