Dipexium Pharmaceuticals, Inc. (PLXP) Downgraded by Zacks Investment Research to Sell
Zacks Investment Research lowered shares of Dipexium Pharmaceuticals, Inc. (NASDAQ:PLXP) from a buy rating to a sell rating in a research note issued to investors on Tuesday morning.
According to Zacks, “PLx Pharma Inc. is a specialty pharmaceutical company. It focused on developing clinically validated and patent-protected PLxGuard(TM) delivery system to provide safe and effective aspirin products. PLx Pharma Inc., formerly known as Dipexium Pharmaceuticals Inc., is based in NEW YORK, United States. “
A number of other analysts have also issued reports on the stock. Redburn Partners upgraded shares of Dipexium Pharmaceuticals to an outperform rating in a research note on Tuesday, August 1st. UBS AG raised shares of Dipexium Pharmaceuticals from a market perform rating to an outperform rating and set a $12.00 price objective for the company in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $9.63.
Dipexium Pharmaceuticals (NASDAQ PLXP) traded down 4.338% during midday trading on Tuesday, hitting $6.395. 13,435 shares of the stock traded hands. Dipexium Pharmaceuticals has a 12-month low of $5.60 and a 12-month high of $126.72. The company’s 50-day moving average is $6.53 and its 200 day moving average is $7.55. The firm’s market cap is $55.56 million.
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Several institutional investors have recently bought and sold shares of the company. Heritage Way Advisors LLC purchased a new stake in shares of Dipexium Pharmaceuticals during the second quarter worth $197,000. University of Texas Investment Managment Co. purchased a new position in Dipexium Pharmaceuticals in the second quarter valued at $385,000. Finally, Susquehanna International Group LLP purchased a new position in Dipexium Pharmaceuticals in the second quarter valued at $1,413,000. 19.68% of the stock is currently owned by institutional investors and hedge funds.
Dipexium Pharmaceuticals Company Profile
PLx Pharma Inc, formerly Dipexium Pharmaceuticals, Inc, is a biopharmaceutical company. The Company is a late stage specialty pharmaceutical company focusing on commercializing its lead products: Aspertec 325 mg and Aspertec 81 mg (Aspertec). The Company’s products and technology includes PLxGuard delivery system, Aspertec 325 mg, PL1100/PL1200 Ibuprofen.
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