ORLANDO, Fla., Jan. 31, 2008 (PRIME NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc., today announced that it has initiated research coverage on GeoPharma, Inc. (Nasdaq:GORX), a rapidly growing pharmaceutical company specializing in the manufacturing and distribution of over-the-counter, nutritional, generic drug and functional food products.
Andre Garnet, MBA, RedChip Senior Equity Research Analyst, wrote in the report:
"We initiate coverage of GeoPharma, Inc., a drug and drug-related manufacturer, with a Speculative Buy recommendation based on: (1) its attractive valuation in terms of its price appreciation potential due to an expected increase in annualized revenues of over 50%, together with higher profitability in FY 2009; and (2) our earnings projections for FY 2009 and beyond as higher margins on revenues from new generic drugs contribute to earnings growth."
"We set a 12-month price target of $8.00 for GORX and recommend it as a Speculative Buy," Mr. Garnet concluded in the report.
To receive a complimentary copy of the RedChip Visibility Initial Research Report for GORX, please visit:
http://www.redchip.com/visibility/about.asp?page=vreport&reportid=85&from=01312008news
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Disclosures
The analyst(s) contributing to this report do not hold any shares of GORX. Additionally, the analyst(s) contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. RedChip certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analyst in the report. Additional information on the securities mentioned in this report is available upon request. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and is not purported to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change. GeoPharma, Inc. paid RedChip Visibility $49,000 for 12 months of the RedChip Visibility Research Program services, which includes this equity research report.