3 ASX shares at 52-week lows: Is it time to buy?

The Mayne Pharma Group Ltd (ASX:MYX) share price is one of three at a 52-week low. Is it time to invest?

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On Thursday the shares of both XERO FPO NZX (ASX: XRO) and Bubs Australia Ltd (ASX: BUB) climbed to 52-week highs.

Whilst this is great news for the shareholders of these companies, spare a thought for the shareholders of the three companies listed below which tumbled to 52-week lows yesterday.

Does their latest declines mean they've fallen into the buy zone now?

The Australian Pharmaceutical Industries Ltd (ASX: API) share price fell sharply on Thursday, hitting a 52-week low of $1.51 in the process. Due to weak trading conditions the company behind the Priceline pharmacy brand revealed that it expects profit growth of 5% this year, compared to previous guidance of a minimum of 10%. Whilst its shares do look to be great value now, I would suggest investors hold off an investment until it has released its results and FY 2018 guidance.

The Cabcharge Australia Limited (ASX: CAB) share price fell to a 52-week low of $2.08 yesterday. Unfortunately I can't say I'm surprised to see the taxi services provider's shares at these low levels. Later this month Cabcharge is expected to post a drop in revenue for the third successive year. Due to the rise of services such as Uber, I wouldn't be at all surprised to see another decline in revenue in FY 2018. Because of this I think investors should avoid Cabcharge.

The Mayne Pharma Group Ltd (ASX: MYX) share price briefly touched on a 52-week low of 88.7 cents on Thursday. Shareholders of the pharmaceutical company have been heading to the exits this year due to concerns over price-fixing allegations and the future prices of generic drugs in the United States. With the Trump administration expected to push to have them lowered significantly, investors appear to be concerned that Mayne Pharma overpaid for its massive acquisition last year.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Xero. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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