Inspired perhaps by JMP Securities initiating coverage from July 17th, the penny stock of InspireMD, Inc. (NSPR) has been on a amazing run since June. After the medical device Company rubbed elbows with the Harvard Investors Group in late June and spoke at the JMP Securities Healthcare Conference two weeks later, NSPR stock has been on a relentless uptrend. With Monday’s $2.47 high, surpassing their $2.00 price target issued by the Wall Street analysts in July, the medical device maker has now gained 311.67% since June 6th.
Our New Alert Is Set For Mid-September! Click HERE To Make Sure You Don’t Miss It!
NSPR Stock Chart
Market Cap: 163.63M
Close: 2.40, up 0.01 (0.42%)
Dollar Volume: $1,699,245
Average Trade Size: 4,744
Issued and Outstanding: 68,178,947
Looking for Hot Penny Stocks?
Click here and get Alerts FREE
Three weeks ago, InspireMD announced a multi-center randomized trial of its MGuard™ embolic protection stent demonstrated a positive outcome in treating patients suffering heart attacks when compared to commercially-approved bare metal or drug-eluting stents. The MASTER, MGuard forAcute ST Elevation Reperfusion, trial enrolled 433 patients in 9 countries with detailed results scheduled to be presented at the October 22-26 Transcatheter Cardiovascular Therapeutics meeting in Miami.
The MGuard™ embolic protection stent is a coronary stent integrated with a proprietary micronet technology. The micronet is designed to hold plaque and thrombus in place against the blocked artery’s wall, preventing debris from entering the bloodstream. Plans for a U.S. FDA registration trial are underway, with patient enrollment expected to begin by year end.
An estimated 3.2 million stenting procedures are expected to be performed globally this year, of which 850,000, 26%, will be for patients having heart attacks. Stents for heart attack patients are expected to represent $1.8 billion of stent sales, 30% of the $5.9 billion global stent market. This will be a huge impact considering that for the 3 months ended March 31, 2012, total revenue decreased 32.5%, to $1.14 million versus $1.69 million during the same period in 2011.
About NSPR Stock
InspireMD, Inc. a medical device company focusing on the development and commercialization of our proprietary stent platform technology, MGuard™. MGuard™ provides embolic protection in stenting procedures by placing a micron mesh sleeve over a stent. The Company’s initial products are marketed for use mainly in patients with acute coronary syndromes, notably acute myocardial infarction (heart attack) and saphenous vein graft coronary interventions (bypass surgery).
Click here to see the SEC filings for NSPR.
Bottom Line: NSPR has been in an incredible penny stock since its June 6 low and appears to have no reason to slow down after their bullish start to September. Keep a close eye on NSPR stock, they are rubbing elbows with the right groups and could see a steady run heading into the end of October when they present their results.
Here is your opportunity to subscribe to the Most Read Penny Stock Newsletter
If You Can’t Make Money With Us, You Shouldn’t Be Trading Penny Stocks
(We are 100% Anti-Spam and will never rent or sell your information)Share