On June 6th, we covered Oculus Innovative Sciences Inc. (OCLS), a commercial healthcare company, with our opinion of how cheap they were. Since then, OCLS stock reported some storng earnings and has been covered by a number of Wall Street analysts, most recently at Maxim Group who set “buy” rating and a $2.80 price target. Sounds like when we watched Peregrine Pharmaceuticals (PPHM) take a while before lifting off, and, although we may have missed the bottom, at $2.80, that’s a 278.4% upside for anyone who jumped in on our alert.
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OCLS Stock Chart
Market Cap: 31.58M
Close: 0.97, up 0.06 (6.59%)
Average Trade Size: 769
Issued and Outstanding: 32,557,634
% Gain Since Our Alert: 31.08%
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On our June alert, we focused most of our attention to the growing revenues and declining stock price of Oculus based on the numbers available for Q-1 and prior. Since then, they filed their 10-Q for the three months ended June 30, 2012. Just like we were looking for, revenues increased compared to the same period last year, but the percentage of that increase was larger than expected.
Revenues for the three months ended June 30, 2012 came in at $4.05 million versus $2.94 million for the same period in 2011. The end result, net income of $405K versus a net loss of -$2.18 million for the same period in 2011. Moving in the right direction to same they least.
Tuesday, Oculus announced the issuance of a new U.S. patent for the use of Microcyn® Technology in the prevention and treatment of peritonitis. Peritonitis is an inflammation of the internal lining of the abdominal cavity which is often caused by bacterial infection and chemical irritation. Bacterial peritonitis is usually secondary to bacterial penetration through an abdominal organ as occurs with disorders such as appendicitis, acute cholecystitis, peptic ulcers, diverticulitis, bowel obstruction, pancreatitis, mesenteric thrombosis, pelvic inflammatory disease, tumor or penetrating trauma, or combinations thereof.
In this application, the latest of 17 issued patents, Microcyn® can be delivered to the peritoneal cavity intra-operatively, laproscopically or transabdominally; and can be administered to peritoneal tissue already affected by peritonitis or tissue at risk of developing this infection. What it means is more revenues for the Company that was $11 a share in 2007.
About OCLS Stock
Oculus Innovative Sciences, Inc. is a commercial healthcare company that designs, produces, and markets innovative, safe and effective drugs, devices, and nutritional products. It is pioneering innovative products for the dermatology, surgical, wound care, and animal healthcare markets.
The Company’s primary focus is on its proprietary technology platform called Microcyn® Technology. This technology is based on electrically charged oxychlorine small molecules designed to target a wide range of organisms that cause disease (pathogens). Several Microcyn® Technology tissue care products are designed to treat infections and enhance healing while reducing the need for antibiotics.
Bottom Line: Healthcare focused penny stocks have a history of bringing huge bang for the buck, 3 cents more than where OCLS stock is currently trading. Even at its current level, OCLS has a 188% upside at $2.80.
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