The stock of Biostar Pharmaceuticals Inc (NASDAQ:BSPM) is a huge mover today! The stock decreased 9.27% or $0.38 on September 30, hitting $3.72. About 1.83 million shares traded hands or 89.44% up from the average. Biostar Pharmaceuticals Inc (NASDAQ:BSPM) has risen 85.52% since February 26, 2016 and is uptrending. It has outperformed by 75.10% the S&P500.
The move comes after 5 months negative chart setup for the $9.75 million company. It was reported on Oct, 1 by Barchart.com. We have $3.24 PT which if reached, will make NASDAQ:BSPM worth $1.27M less.
According to Zacks Investment Research, “BioStar Pharmaceuticals, Inc., through its wholly-owned subsidiary, Shaanxi Aoxing Pharmaceutical Co., Ltd., develops, manufactures and markets pharmaceutical and medical nutrient products for a variety of diseases and conditions. The Company’s most popular product is its Xin Ao Xing Oleanolic Acid Capsule, an over-the-counter medicine for chronic hepatitis B, a disease affecting approximately 10% of the Chinese population. In addition to its hepatitis product, Biostar manufactures two broad-based over-the-counter products, two prescription-based pharmaceuticals and ten nutrients. The Company has adopted international standards and is in the process of applying for three patents. It also operates an herbal medicine planting base which provides it with many of its needed materials at a significantly lower cost than purchasing from third parties, and eliminates most needs for transportation.”
More important recent Biostar Pharmaceuticals Inc (NASDAQ:BSPM) news were published by: Prnewswire.com which released: “Biostar Pharmaceuticals, Inc. Announces Its Quarterly Results for Three Months …” on August 22, 2016, also Marketwatch.com published article titled: “/quotes/zigman/3870025/realtime”, Benzinga.com published: “Crazy Stock Move Of The Day: Biostar Pharmaceuticals” on June 08, 2016. More interesting news about Biostar Pharmaceuticals Inc (NASDAQ:BSPM) was released by: Quotes.Wsj.com and their article: “News Biostar Pharmaceuticals Inc.BSPM” with publication date: February 11, 2011.
BSPM Company Profile
Biostar Pharmaceuticals, Inc. (Biostar), incorporated on March 27, 2007, is a holding company. The Company, through its subsidiary, Shaanxi Biostar Biotech, Ltd. (Shaanxi Biostar), and its variable interest entities (VIEs), Shaanxi Aoxing Pharmaceutical Co., Ltd. (Aoxing Pharmaceutical) and Shaanxi Weinan Huaren Pharmaceuticals Ltd. (Shaanxi Weinan), develops, makes and markets pharmaceutical products for various diseases and conditions in the People’s Republic of China (PRC or China). The Firm offers over-the-counter (OTC) products and prescription pharmaceuticals. The Company’s products are derived from medicinal herbs that are either grown at its own facility or purchased from its suppliers. The Company’s products are sold in approximately 30 provinces in the PRC through a network of over 60 distributors and through approximately 230 sales people.
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