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Thursday, April 20, 2006

Penny Stock Pick - AXYX

Fighting Alzheimer's The penny stock company on the spotlight today is Axonyx Inc.(AXYX), the New York based biopharmaceutical company fousing on Alzheimer's disease drugs development. After the closing bell yesterday the company said a late stage clinical trial showed its Alzheimer's disease treatment stablized brain shrinkage. The positive news send the stock up 12.95% to $1.265 today, one of the biggest gain so far this year. Let's take a closer look at the company to see if this is the right time to buy the stock.

The technical chart shows possibility of a major rally as the 50 day moving average is about to cross on top over 200 day moving average. In addition K line has just rose on top of D line indicating buy signal. If MACD signal can stay on top of 0 and 50 day moving average can break above 200 day moving average than we have a bull market coming for the stock.

There is no transaction so far this year from the company employees. The latest transactions were in June and May of last year where the directors purchased more than 200,000 shares. The institutions however were negative as they sold 14.8 million shares in the latest quarter.

The income statement looks unhealthy as the company only generate $0.4 million in revenue in 2005 compare to $2.3 million in the previous year. The $0.4 million all came in the first quarter of 2005 and there was no revenue generated for the last three quarters. Although the company is generating no revenue at the moment, it still has assets so far to sustain another few years. Looking at the third and fourth quarter of 2005, it looks as if the company is trying to get income from short term investement. In terms of Cash Flow Statement, despite having similar net loss in 2005 compared to 2004, the company still purchased 2 million shares in the fourth quarter of 2005.

Penny Stock Score (1~5) 5 is highest
1. Market Potential(Alzheimer's Treatment): 5
2. News: 5

2. Technical: 4
4. Insider: 3
5. Financial: 3
Recommendation: Buy


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