I was wondering what people think of UNIS, they make a safety needle where the blade retracts after use. Have various patents and what not. The Ceo bought half a million worth of stock at the $5.00 level.
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UNIS - seen on mad money
I was wondering what people think of UNIS, they make a safety needle where the blade retracts after use. Have various patents and what not. The Ceo bought half a million worth of stock at the $5.00 level.
I've been tracking this name since early last year when Cramer first had Alan Shortall on his show. A lot of people like to criticize Cramer for the quick picks he makes during the lightning round and other caller related questions but I've noticed that when he takes a whole segment of his show to talk to a CEO or present an analysis of a company then it's probably a good idea to listen. After tracking it for over a year I decided to finally enter a position and have used the weakness over the last quarter to average into a long position with cost basis at $4.90. I like the prospects of the company, from a trading perspective it hasn't done much but I think that could all change with production about to commence.
The way I look at it is that syringes are a relatively low cost item for hospitals and medical centers to purchase and it is a purchase that is made often so I could definitely see a good amount of orders being acquired. I figured it was good for a small spec play. I think the second half of '11 being very important for the future of this company, everyone will be watching the initial sales of Unitract closely.
here's a technical look at Unilife (UNIS). It appears that the $5.25 level has been a significant area of resistance for this stock and today it closed right on the dot. The last two times it was able to break that level it ultimately ran to $6. Also, you can see the 200-day SMA is sitting right overhead at $5.28 which is usually a difficult line to cross so if it can clear this area in the coming days I think it can run to $6. If it shows any weakness I will consider taking profits on all or some of my position and try to re-enter at a lower price.
Exited my position today at $5.13 to book a small gain, looking to re-enter at a lower price. Price action looks pretty bearish today, didn't even touch the 200-day or that $5.25 level and closed below the 5-day SMA and near to the lows of the day. If I'm right and a selloff does precede then it could be a good time to start averaging into a long position.
On January 20, 2015 Unilife entered into an agreement with AbbVie Inc. (NYSE:ABBV) for the customization and supply of injectable drug delivery systems. AbbVie is set to pay Unilife a $5 million retainer for the availability of its services and products. AbbVie will be purchasing Unifill Finesse prefilled syringes and LISA reusable auto-injectors. The size and details of this project have yet to be released but it can be assumed that it is quite sizable. ABBV is a $100 billion company that produces Humira, which recorded over $10 billion in sales in 2013.
