The biotech has been a poor performer as investors fret about the slower than expected adoption rate of its testosterone treatment in the US and a fierce competitive response from market leader Abbott Laboratories.
These fears sent the stock crashing 40 per cent after it hit a record high of $4.76 in June this year, but the selling is overdone given the clear advantage of the Acrux treatment.
Management also went to great pains to point out that Cialis, an earlier treatment, needed five years to capture around a 50 per cent share of the erectile dysfunction market from Viagra.
Analysts have also forecast improved royalty payment streams with the sale of the treatment in other key markets such as Canada and Europe.
Just about all brokers are urging investors to buy the stock as its target price is nearly double where it is presently trading.
Macca's Neutral = Dunno ??? Anyhow, the chart suggests it's been tough shortening this of late.
ACR Price at posting:
$2.81 Sentiment: None Disclosure: Not Held
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