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Stock to Watch: Rexahn Pharmaceuticals Down 6.0% (RNN)

Published on Tue, 02/12/2013 - 13:23
By Robert Cotter

Rexahn Pharmaceuticals (AMEX:RNN) is one of today's worst performing penny stocks, down 6.0% to $0.38 on 1.3x average daily volume. Thus far today, Rexahn Pharmaceuticals has traded 1.5 million shares, vs. average volume of 1.1 million shares per day. The stock has underperformed the Dow (-6.0% to the Dow's 0.4%) and underperformed the S&P 500 (-6.0% to the S&P's 0.3%) during today's trading.

Rexahn Pharmaceuticals (AMEX:RNN) has potential upside of 298.8% based on a current price of $0.38 and analysts' consensus price target of $1.50. Rexahn Pharmaceuticals shares should encounter resistance at the 200-day moving average (MA) of $0.42 and support at the 50-day MA of $0.32.

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 $0.38, which is 34% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 1.5%.

By Robert Cotter
rcotter@fnno.com