I factor a number of things into my research to gauge potential. The 52-week high @ something in the range of $2.20 during the period where company was making no money sets an upper-limit for me. If shares have not been diluted significantly and no significant debt / toxic financing has been taken on, then there would be very little to persuade me to set a lower intermediate-term price target.
That's the 'simple math'. Then there are the daily candlesticks, Volume patterns, news, technicals, etc.
Go ECDC
GLTA