Elite Pharmaceuticals Inc (ELTP)

[imanjen13]

The average daily volume last week was double the usual volume. Assuming most here have been holding most of their shares, it appears that new investors have found this gem and are taking a position.
Charts are useless since this stock is trading at levels it hasn't reached in 7 years. Fundamentally this is a vastly different company as it moved from abuse deterent technology anchored by the expectation that SequestOx would be approved, to be a major distributor of Adderall along with the filing for other major CNS drugs.
Ironically, the best thing to happen to Elite was the greed of Lannett which developed its own Adderall product and rescinded its distribution agreement with Elite causing Nasrat to make the decision to self distribute. Hiring Kirkov was an important step which changed both his life and the future of long time holders.

There is an unknown regarding the revenue stream that Elite will derive as manufacturers of Adderall for Prasco sales which commenced on January 1 and will not, with the exception of products shipped for their launch prior to the start of the new year, be reflected in the quarter to be reported in February. If the positive predictions of some here that the company can do $60-90M in revenue in 2024 are true, who knows where this stock price can go with a PE which may also anticipate future growth for the erstwhile needle movers currently in development.