Mississauga, ON -- (SBWIRE) -- 02/10/2016 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled "Elite Pharmaceuticals Sees Strong Revenue Growth in Q3."
Companies mentioned in this article include iShares NASDAQ Biotechnology Index (ETF) (NASDAQ:IBB), Gilead Sciences Inc. (NASDAQ:GILD), Amgen Inc. (NASDAQ:AMGN), Merck & Co. Inc. (NYSE:MRK), Pfizer Inc. (NYSE:PFE) and Elite Pharmaceuticals Inc. (OTCQB:ELTP).
Article Excerpt:
After three successive days of losses, U.S. equities have rebounded sharply in trading today led by the NASDAQ. The NASDAQ is gaining on the back of a sharp rebound in the technology and biotechnology sectors. Both sectors have been hammered lately.
The biotechnology sector, in particular, has come under significant selling pressure during the current sell-off. Before today's bounce back, the iShares NASDAQ Biotechnology Index (ETF) (NASDAQ:IBB) had fallen more than 26%. The IBB is up more than 3% in mid-day trading.
The sharp pullback in biotech stocks though has led to some attractive valuations. Gilead Sciences Inc. (NASDAQ:GILD), which recently reported strong fourth-quarter results and also guided for more than $30 billion in 2016 revenue, is now trading at just 7.5x earnings. This is significantly below the average for the S&P 500. Another large cap biotechnology company that is trading at low multiples is Amgen Inc. (NASDAQ:AMGN). Although not as cheap as Gilead, Amgen is still trading at a discount to the S&P 500. AMGN currently trades at P/E ratio of 16.20x. AMGN also has a dividend yield of 2.72%.
The full version of this article can be found at:
http://www.allpennystocks.com/aps_us/special-reports/612/elite-pharmaceuticals-sees-strong-revenue-growth-in-q3.htm
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