Elite Pharmaceuticals (OTCMKTS:ELTP) Reaches New 12-Month High – Here’s Why

Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $0.75 and last traded at $0.60, with a volume of 20266379 shares. The stock had previously closed at $0.71.

Elite Pharmaceuticals Stock Down 14.9 %

The firm has a 50 day simple moving average of $0.35 and a two-hundred day simple moving average of $0.23. The stock has a market capitalization of $640.96 million, a P/E ratio of 70.50 and a beta of 0.19. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.08.

Elite Pharmaceuticals Company Profile

Elite Pharmaceuticals, Inc, a specialty pharmaceutical company, engages in the development, manufacture, and sale of oral, controlled-release products, and generic pharmaceuticals. The company operates in two segments, Abbreviated New Drug Applications for Generic Pharmaceuticals and New Drug Applications for Branded Pharmaceuticals.