Investors look to Lighten Up on Shares of Alexza Pharmaceuticals, Shares Down 15.4% (ALXA)
Alexza Pharmaceuticals (NASDAQ:ALXA) is one of today's worst performing low-priced stocks, down 15.4% to $4.90 on 3.5x average daily volume. Thus far today, Alexza Pharmaceuticals has traded 3.0 million shares, vs. average volume of 869,000 shares per day. The stock has underperformed the Dow (-15.4% to the Dow's -0.3%) and underperformed the S&P 500 (-15.4% to the S&P's -0.4%) during today's trading.
There is potential upside of 104.1% for shares of Alexza Pharmaceuticals based on a current price of $4.90 and an average consensus analyst price target of $10.00. The stock should find resistance at its 50-day moving average (MA) of $5.06, as well as support at its 200-day MA of $4.70.
Alexza Pharmaceuticals, Inc. is a pharmaceutical company focused on the development and commercialization of proprietary products for the treatment of acute and intermittent conditions.
Over the past year, Alexza Pharmaceuticals has traded in a range of $2.55 to $9.90 and is now at $4.90, 92% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.8%.
SmarTrend recommended that subscribers consider buying shares of Alexza Pharmaceuticals on November 21st, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $4.96. Since that recommendation, shares of Alexza Pharmaceuticals have risen 16.9%. We continue to monitor ALXA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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