NT - no one should be thinking this stock is going back to what it was 12 months ago. That was heavily based on the company receiving the $50m milestone payment for sales target it clearly will not achieve any time this FY, plus $170m in further subsequent milestone payments.
Anyone buying ACR now should be looking at it based on its current expected $10-$12m NPAT from existing sales levels.
As i mentioned last week - I had a 97c/share target when i bought at 77c based on a 14.5x PE multiple - although you now have to keep in mind the currency - because ACRs US dollar earnings get negatively impacted by this rising AUD we are now experiencing.
The long term hope would be if FDA investigation turns out not to condemn testosterone treaments, but condemns ACR's no 1 market share competitor - allowing ACR sales to lift and it goes back to possibly getting the Eli Lily milestone payments.
But thats going to be at least 12 months before a hope of that occuring imo.
srx and mbl now starting to look interesting now acr discount to valuation has largely been closed.
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