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Biosante Pharmaceuticals Down 8.2%, Shares Slide into the Red (BPAX)
Feb 14, 2012 (SmarTrend(R) Spotlight via COMTEX) --
Biosante Pharmaceuticals (NASDAQ:BPAX) is one of today's worst performing penny stocks, down 8.2% to $0.78 on 1.1x average daily volume. Biosante Pharmaceuticals has traded 7.8 million shares thus far today, vs. average volume of 7.1 million shares per day. The stock has underperformed the Dow (-8.2% to the Dow's -0.2%) and underperformed the S&P 500 (-8.2% to the S&P's -0.3%) during today's trading.
BioSante Pharmaceuticals, Inc. is an emerging pharmaceutical company. The Company develops hormone replacement products to treat testosterone deficiency in men and estrogen deficiency in women. BioSante is also developing its nanoparticulate based platform technology for novel vaccines, vaccine adjuvant and drug delivery systems.
In the past 52 weeks, shares of Biosante Pharmaceuticals have traded between a low of $0.38 and a high of $4.02 and are now at $0.78, which is 105% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 8.3% while the 200-day MA has slid 1%.
Biosante Pharmaceuticals (NASDAQ:BPAX) is currently priced 13.5% above its average consensus analyst price target of $0.67. Biosante Pharmaceuticals shares should first meet resistance at the 50-day moving average (MA) of $0.98 and find additional resistance at the 200-day MA of $2.23.
SmarTrend recommended that subscribers consider buying shares of Biosante Pharmaceuticals on January 10th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $0.58. Since that recommendation, shares of Biosante Pharmaceuticals have risen 47.8%. We continue to monitor BPAX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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