Strength Seen in Eton Pharmaceuticals (ETON): Can Its 10.8% Jump Turn into More Strength?

Eton Pharmaceuticals, Inc. (ETON) shares soared 10.8% in the last trading session to close at $16.24. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 15.8% gain over the past four weeks.Earlier this month, the company announced that it has acquired Galzin (zinc acetate), which is approved by the FDA as a maintenance treatment for patients with Wilson Disease who have been initially treated with a chelating agent. Eton plans to commercialize Galzin in the United States in the first quarter of 2025. The company also acquired European rights to the product. In Europe, it is marketed under the tradename Wilzin. This might have been driving the recent share price rally.This company is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents a year-over-year change of +77.8%. Revenues are expected to be $10.68 million, up 46.1% 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, the consensus EPS estimate for the quarter has been revised 20% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate 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 >>>>Eton Pharmaceuticals belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Legend Biotech Corporation Sponsored ADR (LEGN), closed the last trading session 0.7% higher at $37.69. Over the past month, LEGN has returned 14.2%.Legend Biotech's consensus EPS estimate for the upcoming report has changed -2.4% over the past month to -$0.32. Compared to the company's year-ago EPS, this represents a change of +20%. Legend Biotech currently boasts a Zacks Rank of #3 (Hold).Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>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 Eton Pharmaceuticals, Inc. (ETON): Free Stock Analysis Report Legend Biotech Corporation Sponsored ADR (LEGN): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks