We Know Penny Stocks which is why our penny stock picks and penny stock alerts are better than anyone who isn’t pumping and dumping. On March 2nd we listed Uroplasty Inc. (Nasdaq: UPI) stock as one that could double and needed to be added to the list of penny stocks to watch. Friday, UPI Stock reached as high as $4.25 during the trading session before closing up 24.78% at $4.18 on volume of 1.4 million. UPI stock is now up 50.90% since our alert at $2.77 and trending as bullish as a Sunday summer afternoon in Spain.
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UPI Stock Chart
Market Cap: 86.98M
Price/Sales (ttm): 3.39
Price/Book (mrq): 3.63
52-Week High
(Jul 12, 2011): 9.11
52-Week Low
(Mar 5, 2012): 2.66
50-Day Moving Average3: 3.02
200-Day Moving Average3: 3.57
Avg Vol (3 month): 131,423
Avg Vol (10 day): 390,088
Shares Outstanding: 20.81M
Float: 15.47M
% Held by Insiders: 3.26%
% Held by Institutions: 70.20%
Shares Short
(as of May 15, 2012): 1.36M
On March 2nd, we issued the alert on UPI. On May 22nd, Uroplasty was upgraded by analysts at Roth Capital from a “neutral” rating to a “buy” rating. Subsequently on Friday, Uroplasty was upgraded by analysts at JMP Securities from a “market perform” rating to an “outperform” rating and given a $6.00 price target on the UPI stock, up previously from $5.60. Why?
Uroplasty just released their 10-K for the fiscal year ended March 31, 2012 on Thursday last week. The company reported their record revenues of $20.56 million, an increase of 49.18% compared to $13.79 million for the same period the fiscal year before. Gross profit increased by 53.71% to $17.53 million compared to $11.40 million for the same period the fiscal year before. The end result was a net loss of $4.25 million compared to a net loss of $4.65 million for the same period the fiscal year before.
About UPI Stock:
Uroplasty Inc. is a medical device company that develops, manufactures and markets innovative, proprietary products for the treatment of voiding dysfunctions. (i.e. pissing or crapping yourself) The Company’s primary focus is on two products:
• Urgent PC® Neuromodulation System, which Uroplasty believes is the only FDA-cleared minimally invasive neuromodulation system that delivers percutaneous tibial nerve stimulation (PTNS) for office-based treatment of overactive bladder (OAB) and the associated symptoms of urinary urgency, urinary frequency, and urge incontinence; and
• Macroplastique® Implants, an injectable urethral bulking agent for the treatment of adult female stress urinary incontinence primarily due to intrinsic sphincter deficiency (ISD).
Outside of the U.S., the Company’s Urgent PC System is also approved for treatment of fecal incontinence, and Macroplastique is also approved for treatment of male stress incontinence, fecal incontinence, vocal cord rehabilitation and vesicoureteral reflux.
Note: At March 31, 2012, 3 regional Medicare carriers representing 15 states, with approximately 17 million covered lives, continued to decline reimbursement coverage for PTNS treatments. Uroplasty participated during fiscal 2012 with 2 Medicare beneficiaries who filed administrative appeals for reconsideration of the decisions of two of those regional Medicare carriers. In April 2012, 1 of those 2 regional Medicare carriers, with 4.6 million covered lives, retired its negative coverage decision, and subsequently in May 2012 published their decision to provide coverage for PTNS treatments retroactive to April 9, 2012. The second appeal remains pending.
Furthermore, the Company also understands that in calendar 2012, and as part of the plans announced by the Centers for Medicare and Medicaid Services to consolidate the regional carriers, 2 regional Medicare carriers currently reimbursing for PTNS treatments are expected to be consolidated into the regional Medicare carrier that recently retired its negative policy. Transaltion: KACHING!
To view the recently filed 10-K and the SEC filings for Uroplasty Inc., click here or visit their website at www.uroplasty.com.
Bottom Line: The penny stock of Uroplasty has the bulls by the horns right now and is going to test $4.45, the first resistance point on Tuesday. If UPI Stock surpasses that with while maintaining high volume levels, $4.71 will be the next resistance point to knock out.
Even though you should have already had UPI on it, get them on your list of penny stocks to watch. UPI was trading at $9.11 last summer and with the possibility of increased medicare coverage for PTNS patients, that price is not too far out of sight.
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