We feature Elite Pharmaceuticals Inc (OTC BB: ELTP), specialty pharmaceutical company, as today’s top momentum gainer since it has rallied more than 81% in the last two trading sessions touching its new 52-week highs while recording significant volumes. During yesterday’s trading session, ELTP was the top gainer in the US healthcare sector after gaining 45% and closed at its 52-week high of $0.795 while recording significant volumes of 17 million shares. During the last 5-trading sessions, ELTP skyrocketed 99% recording daily average volumes of 8 million shares, while the stock accumulated over 174% during the past one month with 30-day average volumes of 7.9 million shares. Last week, Elite Pharmaceuticals announced successful results from a pilot bioequivalence study initiated in December 2013 for ELI-201, a twice-daily opioid abuse deterrent oxycodone product with abuse deterrent technology.
Company Description:
Elite Pharmaceuticals Inc (OTC BB: ELTP) researches, develops, licenses, and manufactures both new and generic oral controlled-release pharmaceutical products. The company has pain products in clinical trials and has developed products incorporating therapeutic agents such as cardiovasculars, antidiabetic, cough and cold preparations, and anti-infectives.
6-Months Stock Chart:
Source: Bloomberg
