One company that should be on your radar is Heron Therapeutics, Inc. ( HRTX ). The stock of this pharmaceutical company has seen its Zacks Rank surge over the past four weeks, moving from Sell territory to its current position as a Buy.
A key reason for this move has been the positive trend in the earnings estimate revisions picture. For HRTX's full year estimate, we have seen 1 estimate go higher in the past 30 days, compared to none lower. This trend has helped the consensus estimate to trend higher, going from a loss of $3.60 a share a month ago to its current level at a loss of $3.48.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, HRTX has seen some pretty solid trading lately, as the company has moved higher significantly in the past month.
If Heron 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 HRTX on your watch list for the future.
Other top-ranked stocks worth considering in this space include Endocyte, Inc. ( ECYT ), Forest Laboratories Inc. ( FRX ) and ARIAD Pharmaceuticals Inc. ( ARIA ). While Endocyte and Forest carry a Zacks Rank #1 (Strong Buy), ARIAD carry a Zacks Rank #2 (Buy).
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