Amid 2016 Uptrend, Shares of Innovus Pharma Consolidate on Technical Support - SECFilings.com
(firmenpresse) - REDONDO BEACH, CA -- (Marketwired) -- 09/29/16 -- SECFilings.com, a leading financial news and information portal offering free real time public filing alerts, recently published an article analyzing Innovus Pharmaceuticals'' (OTCQB: INNV) stock chart from a technical perspective, along with a discussion of the company''s fundamentals.
Fundamentally and technically, it''s been a strong 2016 for Innovus. Shares ended 2015 at 7 cents, and much like the broad markets, it was tough sledding at the start of the year, including a dip to a 52-week low of 2.8 cents for INNV. As it happens, the one-year low attracted buyers, catalyzing a new uptrend. After lumbering around the nickel mark, shares began a regular pattern of higher highs and higher lows, including hitting 20 cents in April, 37 cents in May and a new 52-week high at 66 cents on July 26. Actually, 66 cents was the highest price for the stock since March 14, 2014.
With that type of a run -- a bottom to top climb of 2,257% -- some profit taking is expected and that is what has happened in the past two months as shares look to find a new support point and attract buyers again.
Innovus Pharmaceuticals plans to launch several new products using the Beyond Human direct sales and marketing platform over the coming quarters. These new product launches could be catalysts for the stock, and have not been factored in to the $5 million revenue projection for 2016. The big one is the potential FDA approval of the Fluticare™ product, which could happen at any time. Innovus has all of the manufacturing and distribution channels set up, ready to hit the ground running if approved.
SeeThruEquity raised its price target for Innovus Pharma to $1.00 per share on August 15 in a research update, citing the company''s recent results and guidance.
Read the full article on SECFilings.com here:
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SECFilings.com
Paul Archie
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Datum: 29.09.2016 - 08:04 Uhr
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