Worth A Second Look? Violin Memory Inc (VMEM), Apigee Corp (APIC) and Pernix Therapeutics Holdings Inc (PTX)
New York, NY – GDP INSIDER – 05/18/2014.
This article discusses three companies: Violin Memory Inc (NYSE:VMEM), Apigee Corp (NASDAQ:APIC) and Pernix Therapeutics Holdings Inc (NASDAQ:PTX)
Violin Memory Inc (NYSE:VMEM) continued to decline on Friday as the stock lost nine cents to finish the day at a closing price of $3.31, a 2.65% decline in value from its previous closing price on higher than average trading volume of 0.987 million, compared with its three month average trading volume of 0.876 million. The scalable memory appliances and technology provider has been underperforming the S&P 500 since the beginning of this year, with the stock down over 30%, compared to the index which is up 3.12% for the same period. However, with RSI of 39.80 and one year price target of $6.00, there is still plenty of long term potential so better to hold for now.
Apigee Corp (NASDAQ:APIC) enjoyed a gain of 8.49% during Friday’s trading as the stock gained $1.16 to finish the day at a closing price of $14.82 on lower than average trading volume of 0.220 million, compared to its three month average trading volume of 0.644 million. Despite the gain, API based software platform provider is trading 27.71% below its one year high of $20.50. With the stock now underperforming the S&P 500 with a loss of 11 % YTD, versus the S&P 500 index which has increased over 3% for the period, it is a hold rather than a buy for now.
Pernix Therapeutics Holdings Inc (NASDAQ:PTX) reversed its recent decline on Friday with the stock closing up 5.73% or $0.37 to finish the day at $6.83. The pharmaceutical company saw its volume spiked to a figure of 4.453 million shares, which is significantly higher than its three month average trading volume of 1.13 million, following the announcement of approval of its migraine drug, TREXIMET, by U.S. Food and Drug Administration. The stock has not been doing with the stock underperforming, down over 28% compared to 3.12% increase in S&P 500 for the period. With its MACD diverging in a bullish direction and a one year target price estimate of $13.30, there is still plenty of upside potential in the stock making it a good hold and potential medium to long term buy.
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