On one hand, I’ve got to be crazy to run out here and give stock picks on a day like today. I mean, come on Dave, it’s “Black Monday” for crying out loud! Well as far as I can tell, we’re still four horseman short of the apocalypse so you can keep that “Black Monday” stuff. The only thing black about this Monday is the Retro VI’s on my feet. This is “Green Monday” as far as I’m concerned. If you had the courage to step in and buy the dip you’d be smiling all day.
I’m smiling now putting Alcobra (ADHD – Snapshot Report) as my Bull of the Day. I’ll give you a chance to guess what kind of medication they make. Wait, what was I talking about again? Just kidding. Alcobra is a biopharmaceutical company that focuses on the development and commercialization of drugs to treat attention deficit hyperactivity disorder.
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Analysts have become increasingly bullish on the stock over the last week. The bullish activity by three different analysts has increased the Zacks Consensus Estimate for the current quarter, next quarter, the current year and next year. The most dramatic move occurred in the current year numbers. The recent earnings estimate increases have pushed the Zacks Consensus Estimate from a $1.24 loss to a $1.15 loss.
Shares of ADHD took a tumble heading into the Fall last year. ADHD went from $18 to $3 in less than two months. From there, shares began to rebound, moving up slowly and butting up against resistance at $8. Good news for shareholders is in early August the stock finally broke through that resistance level. With the market selling off and the stock dipping into the $7s now may be a great time to jump on board ahead of the next leg higher.
Be sure to click FOLLOW THE AUTHOR above to stay on top of all the hot momentum stocks at Zacks.com. David Bartosiak is the Momentum Stock Strategist with Zacks and editor of the Momentum Trader.Twitter @bartosiastics