Shares of RXi Pharmaceuticals Corp. (NASDAQ:RXII) shot up 4% on Tuesday . The company traded as high as $2.45 and last traded at $2.35, with a volume of 59,607 shares changing hands. The stock had previously closed at $2.26.

A number of research firms have recently weighed in on RXII. Zacks Investment Research cut shares of RXi Pharmaceuticals Corp. from a “buy” rating to a “hold” rating in a report on Friday, July 15th. HC Wainwright restated a “buy” rating and issued a $3.50 price target on shares of RXi Pharmaceuticals Corp. in a report on Friday, April 1st.

The company’s 50-day moving average is $2.37 and its 200 day moving average is $2.56. The company’s market capitalization is $15.68 million.

RXi Pharmaceuticals Corp. (NASDAQ:RXII) last issued its quarterly earnings data on Friday, May 13th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.11. The company earned $10 million during the quarter, compared to analysts’ expectations of $34 million. During the same quarter last year, the firm posted ($1.30) earnings per share. On average, equities research 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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