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MYL trading at around $19.36 a share |
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may be a steal right now. |
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Released on Sunday, September 11, 2011, 6:00 PM ET
Pittsburgh, PA (SpeculatingStocks) - Mylan, Inc. (NASDAQ:MYL), owner of Mylan Pharmaceuticals, just received its verification of acceptance for their new product—Promethazine Hydrochloride—from the Food and Drug Administration (FDA). The new product fits directly into Mylan Pharmaceuticals’s product line which is upper respiratory medicine and epinephrine pens used to counteract anaphylactic shock.
Mylan Pharmaceuticals also has a myriad of outstanding requests for approval from the FDA for various products, representing billions in future sales. This new product is expected to treat seasonal allergy symptoms, and if it is anything that we have seen from Mylan in the past, it will be inexpensive and effective, perfect for the customer and great for investor pocket books as well.
MYL was trading at $19.36 a share at the market’s close on September 9th, leaving a good amount of room to move and possibly even break out of its 52-week range of $25.46 a share. With a beta of 0.77, Mylan, Inc. moves slightly less than the market, which could be a nice relief from the stomach-turning tides we have been seeing recently.
The company also has a nice average EPS of 0.89, and reported an EPS of 0.43 last quarter alone. It was running a current ratio of 1.49 in the quarter ending June 30th, 2011, and holds total assets of $12 Billion.
If Mylan Pharmaceuticals gets approval from the FDA for many of its remaining products in the near future, Mylan, Inc.’s stock may be a big win for investors. Trading at $19.36 a share right now would be a steal, even with an approximate P/E of 21.63, this recent news could cause that number to drop substantially in the coming quarter, especially if Mylan is able to market and produce the drug, and something they have most likely been prepped to do since its inception. And when that number begins to stabilize at around $15.00 you should see gains come in as well.
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