CHICAGO, IL / ACCESSWIRE / September 9, 2015 / We initiate coverage on Innovus Pharmaceuticals, Inc. ("INNV") with a strong buy rating and a price target of $0.80 per share. INNV is an emerging pharmaceutical company engaged in the commercialization, licensing, and development of nonprescription medicines and consumer care products to improve men's and women's health and vitality. The company's current product portfolio consists of Zestra(R) (for female arousal and desire), Zestra Glide(R) (female water based lubricant), EjectDelay(TM) (for premature ejaculation), and Sensum+(TM) (for reduced penile sensitivity) and FlutiCare(TM) for allergic rhinitis.
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Innovus Pharmaceuticals Inc. (INNV), located in San Diego, California, is an emerging pharmaceuticals company that delivers safe, innovative and effective non-prescription over-the counter medicine and consumer care products to improve men and women's health and vitality. The company's current product portfolio consists of Zestra(R) (for female arousal and desire), Zestra Glide(R) (female water based lubricant), EjectDelay(TM) (for premature ejaculation), and Sensum+(TM) (for reduced penile sensitivity) and FlutiCare(TM) for allergic rhinitis.
Innovus Summary Highlights:
- Revenue increased to $1mn in the company's first full year of commercial operations, up from $6,641 in 2013
- EPS came in at ($0.20) versus ($0.23) in 2013
- Signed distribution agreements with approximately $2mn in minimum annual orders in 2015 for its five commercial products from its seven global partners.
- Signed close to $500M in sales milestones with 9 partners in 60 countries
- Closed $1M in financing from institutional investors in August-Sept 2015
- Product launches ongoing in multiple countries by its partners
Strong Buy Rating and Target price of $0.80 per share:
We see Innovus as a high-risk / high-reward investment opportunity in the OTC pharmaceuticals space with a differentiated business model focused on men and women's health, vitality, and respiratory diseases and an expanding international presence.
We see the Company's:
1. Revenues increasing to $1.6M in 2015
2. Adding multiple new partners in 2015
3. Receiving approvals for its products in multiple countries
4. Being cash flow positive exiting 2016 and profitable in 2017
5. Unusual high short position which in our opinion will help the Company to achieve higher share price if it continues to execute on its strategy
The Company is particularly interesting at this time due to its low prices which in our opinions is not related to the Company's performance or its outlook so we are initiating our coverage with a strong buy and a price target of $0.80 for Innovus at this time. If achieved this would represent 691% upside from the recent market price of $0.1011 on September 07, 2015.
About E3 Capital, LLC.
E3 Capital LLC (E3 Capital) is a Chicago based research firm, which covers global markets, and engages in proprietary trading of commodities, global equities, fixed income, currencies, derivatives and ETFs. We also search for publicly listed companies, which are overlooked and undervalued by institutional asset managers.
Disclosure: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. E3 Capital has not been compensated by INNV nor expects to receive any compensation for distribution of our opinions and publicly available information is as of 09/08/2015. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein.
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