Shares of RXi Pharmaceuticals Corp. (NASDAQ:RXII) dropped 3.9% during trading on Monday . The stock traded as low as $2.46 and last traded at $2.46, with a volume of 62,487 shares. The stock had previously closed at $2.56.

RXII has been the topic of several research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $3.50 price target on shares of RXi Pharmaceuticals Corp. in a research note on Friday, April 1st. Zacks Investment Research upgraded shares of RXi Pharmaceuticals Corp. from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a research report on Friday, June 10th.

The stock’s 50 day moving average is $2.33 and its 200 day moving average is $2.66. The firm’s market cap is $16.07 million.

RXi Pharmaceuticals Corp. (NASDAQ:RXII) last released its quarterly earnings results on Friday, May 13th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.11. The company earned $10 million during the quarter, compared to analysts’ expectations of $34 million. During the same period last year, the firm posted ($1.30) earnings per share. On average, equities analysts anticipate that RXi Pharmaceuticals Corp. will post ($1.48) earnings per share for the current fiscal year.

RXi Pharmaceuticals Corporation is a biotechnology company focused on discovering and developing therapies addressing high unmet medical needs, primarily in the areas of dermatology and ophthalmology. The Company’s development programs are based on its siRNA technology and immunotherapy agents. Its clinical development programs include self-delivering RNAi (sd-rxRNA) compounds for the treatment of dermal and retinal scarring, and an immunodulating agent, Samcyprone, for the treatment of such disorders as alopecia areata, warts and cutaneous metastases of melanoma.

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