Algernon Pharmaceuticals (XCNQ:AGN) Momentum Rank : 4 (As of May. 25, 2024)

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What is Algernon Pharmaceuticals Momentum Rank?

Algernon Pharmaceuticals has the Momentum Rank of 4.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Competitive Comparison of Algernon Pharmaceuticals's Momentum Rank

For the Biotechnology subindustry, Algernon Pharmaceuticals's Momentum Rank, along with its competitors' market caps and Momentum Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Algernon Pharmaceuticals's Momentum Rank Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Algernon Pharmaceuticals's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Algernon Pharmaceuticals's Momentum Rank falls into.

Algernon Pharmaceuticals Momentum Rank Related Terms

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Algernon Pharmaceuticals (XCNQ:AGN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Algernon Pharmaceuticals Inc (XCNQ:AGN) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

AGNPF:USA AGW0:Germany

Address

601 West Broadway, Suite 400, Vancouver, BC, CAN, V5Z 4C2

Website

https://www.algernonpharmaceuticals.com

Algernon Pharmaceuticals Inc is a clinical-stage drug development company focused on the disease areas of stroke, idiopathic pulmonary fibrosis and chronic cough. The company's business model is capital efficient and strives to deliver maximum shareholder value. Algernon's approach to drug discovery is based on the concept of drug repurposing. It operates in two reportable segments: the development of repurposed therapeutic drugs in Canada, and the facilitation of the Company's drug candidates into off-label phase II clinical trials (humans) in Australia.

Executives

Christopher Moreau

Director, Senior Officer

Algernon Pharmaceuticals (XCNQ:AGN) Headlines

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