Petros Pharmaceuticals Inc [NASDAQ: PTPI] stock went on a downward path that fall over -2.46% on Wednesday, amounting to a one-week price decrease of less than -10.53%. The company report on January 17, 2024 at 9:00 AM that Petros Pharmaceuticals Demonstrates Positive Results Following Successful Completion of Initial Cohort of Phase 2 Equivalent Self-Selection Study for STENDRA (avanafil) Rx-to-OTC Switch.
Over 78% of technology-enabled subjects correctly self-selected vs. 56% using drug facts label alone demonstrating continued progress toward STENDRA® working to become the first erectile dysfunction medication to successfully achieve OTC status.
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Petros Pharmaceuticals, Inc. (NASDAQ:PTPI), a company focused on expanding consumer access to medication through over-the- counter (OTC) drug development programs, announces the successful completion of the initial cohort of a Phase 2 equivalent Self-Selection Study (SSS). The study demonstrated that more than 78% of subjects utilizing the technology assistive application correctly self-selected to use STENDRA (avanafil) compared to 56% of subjects who utilized the Drug Facts Label (DFL) alone. (Please see important safety information for STENDRA, below).
Over the last 12 months, PTPI stock dropped by -60.98%. The one-year Petros Pharmaceuticals Inc stock forecast points to a potential upside of 70.25. The average equity rating for PTPI stock is currently 1.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $2.62 million, with 2.08 million shares outstanding and 1.33 million shares in the current float. Compared to the average trading volume of 197.79K shares, PTPI stock reached a trading volume of 12687643 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Petros Pharmaceuticals Inc [PTPI]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PTPI shares is $4.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PTPI stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
The Average True Range (ATR) for Petros Pharmaceuticals Inc is set at 0.18, with the Price to Sales ratio for PTPI stock in the period of the last 12 months amounting to 0.38. The Price to Book ratio for the last quarter was 0.36, with the Price to Cash per share for the same quarter was set at 8.17.
PTPI Stock Performance Analysis:
Petros Pharmaceuticals Inc [PTPI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.53. With this latest performance, PTPI shares dropped by -13.77% in over the last four-week period, additionally sinking by -65.61% over the last 6 months – not to mention a drop of -60.98% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PTPI stock in for the last two-week period is set at 38.77, with the RSI for the last a single of trading hit 32.89, and the three-weeks RSI is set at 41.41 for Petros Pharmaceuticals Inc [PTPI]. The present Moving Average for the last 50 days of trading for this stock 1.3542, while it was recorded at 1.2850 for the last single week of trading, and 2.3609 for the last 200 days.
Insight into Petros Pharmaceuticals Inc Fundamentals:
Petros Pharmaceuticals Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.71 and a Current Ratio set at 3.02.
Petros Pharmaceuticals Inc [PTPI] Institutonal Ownership Details
The top three institutional holders of PTPI stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PTPI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PTPI stock with ownership which is approximately 5.8325%.
