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Rexahn Pharmaceuticals Up 7.9%, Penny Stock Attracts Attention (RNN)

Published on Mon, 04/22/2013 - 12:25
By Mallory Stone

Rexahn Pharmaceuticals (AMEX:RNN) is one of today's best performing penny stocks, up 7.9% to $0.33 on 3.3x average daily volume. Rexahn Pharmaceuticals has traded 1.1 million shares thus far today, vs. average volume of 343,000 shares per day. The stock has outperformed the Dow (7.9% to the Dow's -0.1%) and outperformed the S&P 500 (7.9% to the S&P's 0.2%) during today's trading.

Rexahn Pharmaceuticals, Inc. is a biopharmaceutical company. The Company develops signal inhibitor therapies for cancer, and treatments for central nervous system diseases.

In the past 52 weeks, shares of Rexahn Pharmaceuticals have traded between a low of $0.28 and a high of $0.81 and are now at $0.33, which is 17% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.5%.

Rexahn Pharmaceuticals has overhead space with shares priced $0.33, or 78.1% below the average consensus analyst price target of $1.50. The stock should hit resistance at its 200-day moving average (MA) of $0.40, as well as support at its 50-day MA of $0.32.

By Mallory Stone