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 Hot Stock to Watch |
Company: BioCorRx Inc. (OTCQB: BICX)
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Last:
Price: 0.1525
Change (%): + 0.0425 (38.64)
Volume: 724,408 |
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Innovative Company Hitting on All Cylinders; Best is Yet to Come
COMPANY SNAPSHOT
BioCorRx Inc. is a healthcare solutions company on the leading edge of substance abuse addiction treatment. BioCorRx developed the highly effective Start Fresh ProgramTM which is sold to and used by addiction clinics across the U.S. The first component of the program consists of an outpatient implant procedure performed by a physician that delivers therapeutic levels of the drug Naltrexone, an opioid antagonist that significantly reduces physical cravings for alcohol and opioids, into the body. The second component is a one-on-one coaching program specifically tailored for the treatment of alcoholism and other substance abuse addictions.
KEY TAKEAWAYS
Conclusion: As reported collectively by the clinics using the Start Fresh Program, there was a patient treatment growth of roughly 300% for 2Q14 versus 2Q13 and this appears to be just the beginning of a major upside trend. Therefore, BICX is on track to reach our $0.40 price target by the turn of the year.
Huge Patient Growth in Q2
With the opening of new clinics in recent months, the number of patients treated during the period nearly tripled as compared with 2Q13, according to the clinics. Plus, BioCorRx reported net profit of over $300,000 in Q2, aided by favorable non-operating items.
Twelve Clinics Will be Operational by Year-End
We should note that BICX only had more than one clinic actively treating patients for 5 months this year up to end of Q2 so we expect future growth to be similar in magnitude to Q2. With 8 clinics open now and 12 becoming operational by year-end, the number of patients treated for Q2 could quickly become the same number of patients treated on a monthly basis, dramatically increasing BICX’s revenue.
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