Monday’s penny stock alert, Advaxis Inc. (OTC: ADXS) traded as high as 0.106, 8.16% from Friday’s close, on volume of roughly 2.47 million shares. More importantly is that ADXS was given an “outperform” rating by Zacks Small-Cap Research citing that the stock of the biotech company was “undervalued.” Highlights include that Zacks has given a price target of $0.20 per share and values Advaxis at $56 million in market cap based on 280 million shares outstanding.
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ADXS Stock Chart
Market Cap: 28.65M
(Jul 6, 2011): 0.21
(May 15, 2012): 0.08
50-Day Moving Avg: 0.12
200-Day Moving Avg: 0.14
Avg Vol (3 month): 854,666
Avg Vol (10 day): 1,292,310
Shares Outstanding: 286.47M
% Held by Insiders: 4.45%
% Held by Institutions: 0.10%
In the research report issued on Monday, Zacks also points out that they noticed the recent acquisition of the privately held company BioVex by Amgen Inc. (Nasdaq: AMGN) which was valued at $1 billion with $425 million as an upfront payment and up to $575 million in additional payments upon the achievement of certain regulatory and sales milestones.
BioVex is developing OncoVex, an oncolytic vaccine in Phase III clinical development, for the treatment of melanoma and head and neck cancer.
Bottom Line: ADXS is one of those typical biotech penny stocks where the big payoff comes from patience. ADXS broke past its 1st resistance point, 0.1043, on Monday on 2X the 10-day average volume and 3x the 3-month average volume.
ADXS is currently priced at -18.07% below the 50 day moving average, -28.31% below the 200 day moving average, -52.38% below the 52-week high of 0.21, and 25.00% above the 52 week low of 0.08. Keep ADXS on your radar. This is a great company with a huge future ahead of itself in cancer treatment and vaccine development.
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