Stocks To Watch? Elite Pharmaceuticals Inc(ELTP), InVivo Therapeutics Holdings Corp.(NVIV) and Creative Edge Nutrition Inc(FITX)
New York, NY – GDP INSIDER – 02/19/2015.
This article discusses three companies: Elite Pharmaceuticals Inc(OTCMKTS:ELTP), Invivo Therapeutics Holdings Corp(OTCMKTS:NVIV), Creative Edge Nutrition Inc(OTCMKTS:FITX)
Elite Pharmaceuticals Inc(OTCMKTS:ELTP) stock trended downwards again yesterday after receiving a boost on Monday from announcing positive Q3 results. The niche pharmaceutical company specialized in abuse deterrent opioids closed down 9.98% at $0.23 after 8.6 million shares were traded, over 4 times its 3 month average volume of 1.8 million. Despite Elite reporting that it had increased revenues by 8.5% over the previous quarter, they were below the same quarter of the previous year. Elite has several promising products in final testing but until they are approved, the stock is unlikely to break its $0.30 resistance level.
Invivo Therapeutics Holdings Corp(OTCMKTS:NVIV) shares continued to climb yesterday with the stock closing up 5.89% at $2.34 with 1.2 million shares changing hands. This means that the medical device company specialized in spinal cord injuries has gained $1 or close to a 100% increase since its opening price of $1.33 at the beginning of this year. Invivo Therapeutics Holdings Corp is now already approaching its 52 week high of $2.67 and in striking distance of its 1 year target estimate of $3.00. Whether it will continue to rise, however, is uncertain making it a hold rather than a buy.
Creative Edge Nutrition Inc(OTCMKTS:FITX) the active lifestyle nutritional supplement producer lost ground yesterday to close down 5.00% at $0.0114 with over 61.2 million shares traded. The stock had been trading up slightly after the company announced the packaging and flavors for its Giddy Up line of energy drinks on Monday, an alternative to its medical marijuana products which are being spun off into CEN Biotech, a completely separate company. However, until the spin-off is complete and the Giddy Up line is launched, the stock will likely remain between $0.01 and $0.02 with huge upside potential.
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