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OxiGene (OXGN) In A Perilous Reversal

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified OxiGene ( OXGN) as a "perilous reversal" (up big yesterday but down big today) candidate. In addition to specific proprietary factors, Trade-Ideas identified OxiGene as such a stock due to the following factors:

  • OXGN has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $22.5 million.
  • OXGN has traded 1.7 million shares today.
  • OXGN is down 3.2% today.
  • OXGN was up 8.1% yesterday.

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More details on OXGN:

OXiGENE, Inc., a clinical-stage biopharmaceutical company, develops therapeutics primarily to treat cancer.

The average volume for OxiGene has been 1.6 million shares per day over the past 30 days. OxiGene has a market cap of $52.9 million and is part of the health care sector and drugs industry. The stock has a beta of 2.55 and a short float of 11.5% with 0.04 days to cover. Shares are up 48.8% year-to-date as of the close of trading on Tuesday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates OxiGene as a sell. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, poor profit margins and generally disappointing historical performance in the stock itself.

Highlights from the ratings report include:

  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Biotechnology industry. The net income has significantly decreased by 25.2% when compared to the same quarter one year ago, falling from -$1.68 million to -$2.10 million.
  • Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Biotechnology industry and the overall market, OXIGENE INC's return on equity significantly trails that of both the industry average and the S&P 500.
  • The gross profit margin for OXIGENE INC is currently extremely low, coming in at 0.00%. Despite the low profit margin, it has increased significantly from the same period last year.
  • OXGN has underperformed the S&P 500 Index, declining 10.56% from its price level of one year ago. The fact that the stock is now selling for less than others in its industry in relation to its current earnings is not reason enough to justify a buy rating at this time.
  • OXGN, with its very weak revenue results, has greatly underperformed against the industry average of 14.6%. Since the same quarter one year prior, revenues plummeted by 100.0%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.

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