Elite Pharmaceuticals, Inc. is an AMEX listed security that has been trading in a range between $1.80 and $2.75 over the past year. With 20,820,050 shares outstanding, a recent price of $2.60 gives a total market capitalization of $55,173,134. While there are certainly larger companies, Elite Pharmaceuticals, Inc. has definitely earned its place in the pack. Last year, Elite Pharmaceuticals, Inc. created $-0.66 in earnings for every share outstanding.
Elite Pharmaceuticals, Inc. is currently priced by the market at 0.00 times last year’s earnings. Many trading multiples around the world are quite attractive these days, but don’t be fooled. A Price to Earnings ratio of 0 simply means that the security didn’t make any money last year.
With a share price under $50 a share and earnings per share below $1 a share, Elite Pharmaceuticals, Inc. is unlikely to be an interesting value proposition.
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