Mangoceuticals, Inc. (NASDAQ:MGRX) shares are trading higher Tuesday after the company announced the development of oral formulations of Semaglutide and Tirzepatide.
The Details:
Mangoceuticals announced the development of proprietary oral formulations of Semaglutide ("Slim") and Tirzepatide ("Trim") to aid in weight management. The company plans to have the products available for customers in the beginning of the 3rd quarter with 'Slim' and 'Trim' priced at $299/month and $399/month, respectively.
"We are thrilled to introduce 'Slim' and 'Trim', MangoRx's oral formulations of Semaglutide and Tirzepatide, to the weight loss market," said Jacob Cohen, CEO of MangoRx.
"Our goal is to provide patients with a convenient and effective way to manage their weight and improve their overall health. We believe that these oral formulations have the potential to significantly impact the lives of millions of people worldwide."
Mangoceuticals shares are racing higher on heavy trading volume following the announcement. According to data from Benzinga Pro, more than 102 million shares have already been traded in the session, compared to the stock's 100-day average of less than 574,000 shares.
Related News: Palo Alto Networks Shares Drop After Q3 Results, In-Line Guidance: The Details
Is MGRX A Good Stock To Buy?
An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like Mangoceuticals' page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.
These are known as capital allocation programs. Mangoceuticals does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.
For example, if you're looking to earn an annualized return of 12.46%, you'll need to buy a share of Big Banc Split by May 29, 2024. Once done, you can expect to receive a nominal payout of $0.12 on June 14, 2024.
Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on Mangoceuticals will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.
MGRX Price Action: According to Benzinga Pro, Mangoceuticals shares are up 247% at 88 cents at the time of publication Tuesday.
Image created using artificial intelligence via Midjourney