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Trade-Ideas LLC identified
) as a pre-market mover with heavy volume 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 $7.8 million.
- OXGN traded 167,917 shares today in the pre-market hours as of 7:29 AM, representing 13.3% of its average daily volume.
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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 434,700 shares per day over the past 30 days. OxiGene has a market cap of $6.5 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 27.9% with 0.20 days to cover. Shares are down 18.1% year-to-date as of the close of trading on Friday.
rates OxiGene as a
. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, disappointing return on equity 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 against the S&P 500 and did not exceed that of the Biotechnology industry. The net income has decreased by 17.8% when compared to the same quarter one year ago, dropping from -$2.25 million to -$2.65 million.
- Current return on equity is lower than its ROE from the same quarter one year prior. This is a clear sign of weakness within the company. 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.
- Looking at the price performance of OXGN's shares over the past 12 months, there is not much good news to report: the stock is down 47.99%, and it has underformed the S&P 500 Index. In addition, the company's earnings per share are lower today than the year-earlier quarter. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now.
- OXIGENE INC's earnings per share declined by 20.5% in the most recent quarter compared to the same quarter a year ago. This company has not demonstrated a clear trend in earnings over the past 2 years, making it difficult to accurately predict earnings for the coming year. During the past fiscal year, OXIGENE INC continued to lose money by earning -$5.82 versus -$10.20 in the prior year.
- Net operating cash flow has increased to -$1.53 million or 29.50% when compared to the same quarter last year. Despite an increase in cash flow, OXIGENE INC's cash flow growth rate is still lower than the industry average growth rate of 62.44%.
- You can view the full OxiGene Ratings Report.