Salarius Pharmaceuticals Inc. (SLRX) Clearly Signals Buy-Into the Stock: Don’t ignore the signals

Salarius Pharmaceuticals Inc. (NASDAQ: SLRX) stock fell -16.76% on Friday to $2.98 against a previous-day closing price of $3.58. With 3.37 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.12 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $4.4400 whereas the lowest price it dropped to was $2.6300. The 52-week range on SLRX shows that it touched its highest point at $13.46 and its lowest point at $1.07 during that stretch. It currently has a 1-year price target of $70.50. Beta for the stock currently stands at 0.77.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SLRX was up-trending over the past week, with a rise of 11.61%, but this was up by 106.94% over a month. Three-month performance surged to 29.00% while six-month performance fell -42.08%. The stock lost -76.16% in the past year, while it has gained 94.77% so far this year. A look at the trailing 12-month EPS for SLRX yields -14.18 with Next year EPS estimates of -4.89. For the next quarter, that number is -2.15. This implies an EPS growth rate of 37.90% for this year and 34.30% for next year.

Float and Shares Shorts:

At present, 2.25 million SLRX shares are outstanding with a float of 2.17 million shares on hand for trading. On Oct 13, 2022, short shares totaled 15730.0, which was 0.70% higher than short shares on Sep 14, 2022. In addition to Mr. David J. Arthur M.B.A. as the firm’s CEO, Pres & Director, Mr. Mark J. Rosenblum CPA serves as its Exec. VP of Fin. & CFO.

Institutional Ownership:

Through their ownership of 17.70% of SLRX’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 9.38% of SLRX, in contrast to 5.35% held by mutual funds. Shares owned by individuals account for 3.44%. As the largest shareholder in SLRX with 2.74% of the stake, Medical Strategy GmbH holds 62,336 shares worth 62,336. A second-largest stockholder of SLRX, The Vanguard Group, Inc., holds 52,978 shares, controlling over 2.33% of the firm’s shares. Renaissance Technologies LLC is the third largest shareholder in SLRX, holding 25,370 shares or 1.11% stake. With a 2.44% stake in SLRX, the FCP Medical – BioHealth is the largest stakeholder. A total of 55,502 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 0.96% of SLRX stock, is the second-largest Mutual Fund holder. It holds 21,884 shares valued at 33483.0. Vanguard Extended Market Index Fu holds 0.66% of the stake in SLRX, owning 15,113 shares worth 23123.0.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SLRX since 1 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SLRX analysts setting a high price target of $125.00 and a low target of $125.00, the average target price over the next 12 months is $125.00. Based on these targets, SLRX could surge 4094.63% to reach the target high and rise by 4094.63% to reach the target low. Reaching the average price target will result in a growth of 4094.63% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. SLRX will report FY 2022 earnings on 03/08/2024. Analysts have provided yearly estimates in a range of -$14.04 being high and -$21.25 being low. For SLRX, this leads to a yearly average estimate of -$17.64. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Salarius Pharmaceuticals Inc. surprised analysts by -$3.86 when it reported -$6.41 EPS against a consensus estimate of -$2.55. The surprise factor in the prior quarter was $0.38. Based on analyst estimates, the high estimate for the next quarter is -$2.07 and the low estimate is -$2.24. The average estimate for the next quarter is thus -$2.15.

Summary of Insider Activity:

Insiders traded SLRX stock several times over the past three months with 5 Buys and 0 Sells. In these transactions, 28,809 shares were bought while 0 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 456,196 while 0 shares were sold.

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