Earth Science Tech Inc (OTCMKTS:ETST) Gets A $3.60 Price Target

Earth Science Tech Inc (OTCMKTS:ETST) is showing signs of trading higher following a string of positive developments that have renewed investor interest in the stock. The stock has already bottomed out, from the lower end of a trading channel after rallying by more than 70%.

Price Analysis

Equity research firm, SeeThruEquity, initiating coverage of the stock with a share price target of $3.60 is one of the developments accelerating the upward momentum. The company underlining intent to become a global leader in research & development and sale of hemp-derived pharmaceuticals also continues to excite investors.The stock is currently trading in a steep uptrend as bulls continue to overpower bears. Given that Earth Science is currently flirting with a critical resistance level, it needs to breach the $1.50 mark to re-affirm the emerging uptrend. Above the $1.50 mark, the stock would be bullish after this year’s consolidation. ETST Daily ChartSellers, on the other hand, would find strong support at tube $1 a share level, on any sell-off. A breach of the support level could see the stock dropping to the $0.80 level seen as the next substantial support level. A closer look at the bigger picture as well as the underlying fundamentals, Earth Science Tech remains well positioned to finish the year on a high.

What Does Earth Science Tech Do?

Earth Science Tech casts itself as a biotechnology company focused on delivering nutraceuticals, Bioceuticals, and dietary supplements. In addition, the company has ventured into the cannabis space in pursuit of growth opportunities. The company boasts of high-grade full spectrum Cannabinoid oil on the market.

$3.60 Share Price Target

A report by brokerage firm SeeThruEquity indicating that the stock has the potential to rise to the $3.60 mark is a development that has caught investors’ attention. The firm bases its share price target on the company’s sales growth as well as recent activity and market potential.According to the equity film, Earth Science Tech remains well positioned to compete for share in the multi-billion hemp market. Establishment of a robust distribution network for high purity CBD product line covering more than 90,000 retail outlets is seen as a plus in the company’s pursuit for more revenues.

“We are excited to be covered by a well-respected Wall Street equity firm and are pleased it has taken notice of our recent financial results, recent accomplishments, and positive outlook. This coverage by SeeThruEquity validates the passion and expectations that we at ETST have for the Earth Science brand and our mission to become a leading biotech player,” said ETST Chairman Nickolas S. Tabraue.

SeeThruEquity expects the company to register revenue growth throughout the year thanks to the expanded retail distribution. According to the equity research firm, ETST could pose a 64% increase in revenues in 1Q2019 at $166,891. The expected increase in growth is attributed to the execution of the company’s line made up of CBD nutraceuticals and supplements.

Growing Product Line

The company has racked up a string of achievements since inception, all of which position it for robust growth going forward. The company is currently working on three new CBD formulas which are also under provisory patent. One of the products under development is a neuron protector while the other one is a breast protector.

“We are already at work with Bionatus in Brazil and Canada on the manufacture of the first product, Propovit enriched with ETST hemp oil. We are also working on a reformulation of Bionatus’ product. The new formulation will see the product enriched with CBD to boost the suspected anti-inflammatory and bronchial-dilatation properties of the main natural ingredient,” said CEO and Chief Science Officer, Dr. Michel Aube.

Its high-grade hemp CBD oil has successfully deterred the formation of reactive oxygen species and cell death in human brain cells in trials. Buoyed by the development, the company has launched a string of proprietary prophylactic therapies for preventing breast cancer.Earth Science Tech third CBD formula is a one of a kind Superfoods with unique organoleptic properties. Formulated from a mix of hemp oil and other vegetable oils the product seeks to improve antioxidant ingestion.

Bottom Line

Earth Science Tech recent rally does not come as a surprise given that the company is firing on all angles, when it comes to operational efficiencies. Strengthening of cannabis product line, as well as a distribution channel, are some of the developments that underscore its long-term prospects.Equity firm SeeThruEquity reiterating a $3.60 price target is another testament of how professionals remain confident about the stock’s long-term prospects.After a recent spike higher, it may be wise to wait for a breach of the $1.50 mark to enter a long position on any pullbacks.We will be updating our subscribers as soon as we know more. For the latest updates on ETST sign up below!Disclosure: We have no position in ETST and have not been compensated for this article.