Aquinox Pharmaceuticals, Inc. (NASDAQ:AQXP) Upgraded by Zacks Investment Research to Buy
Aquinox Pharmaceuticals, Inc. (NASDAQ:AQXP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage presently has a $15.00 price objective on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 14.50% from the company’s current price.
According to Zacks, “Aquinox Pharmaceuticals, Inc. is a clinical-stage pharmaceutical company. The Company discovers and develops oral drug candidates to treat inflammation and cancer. Aquinox Pharmaceuticals, Inc. is headquartered in Vancouver, Canada. “
Several other research firms have also recently commented on AQXP. BidaskClub raised Aquinox Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Canaccord Genuity set a $22.00 price objective on Aquinox Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday. Cantor Fitzgerald set a $28.00 price objective on Aquinox Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, May 9th. Finally, ValuEngine raised Aquinox Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $22.25.
Aquinox Pharmaceuticals (AQXP) traded down 3.32% during trading on Thursday, reaching $13.10. 46,374 shares of the company’s stock were exchanged. Aquinox Pharmaceuticals has a 12 month low of $8.76 and a 12 month high of $19.97. The stock’s market cap is $307.12 million. The firm has a 50 day moving average of $14.58 and a 200-day moving average of $15.51.
Aquinox Pharmaceuticals (NASDAQ:AQXP) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.59) EPS for the quarter, meeting the consensus estimate of ($0.59). On average, equities research analysts anticipate that Aquinox Pharmaceuticals will post ($2.15) earnings per share for the current fiscal year.
In other Aquinox Pharmaceuticals news, insider David Main sold 15,625 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $13.26, for a total value of $207,187.50. Following the transaction, the insider now directly owns 77,530 shares of the company’s stock, valued at $1,028,047.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.70% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Investment Centers of America Inc. purchased a new position in shares of Aquinox Pharmaceuticals during the first quarter valued at about $172,000. Archon Partners LLC boosted its position in shares of Aquinox Pharmaceuticals by 44.0% in the second quarter. Archon Partners LLC now owns 18,000 shares of the company’s stock valued at $253,000 after buying an additional 5,500 shares during the last quarter. Alps Advisors Inc. boosted its position in shares of Aquinox Pharmaceuticals by 4.7% in the second quarter. Alps Advisors Inc. now owns 21,090 shares of the company’s stock valued at $297,000 after buying an additional 939 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Aquinox Pharmaceuticals by 16.5% in the second quarter. Bank of New York Mellon Corp now owns 23,260 shares of the company’s stock valued at $327,000 after buying an additional 3,299 shares during the last quarter. Finally, Sphera Funds Management LTD. purchased a new position in shares of Aquinox Pharmaceuticals during the second quarter valued at about $874,000. 98.32% of the stock is currently owned by institutional investors and hedge funds.
Aquinox Pharmaceuticals Company Profile
Aquinox Pharmaceuticals, Inc is a clinical-stage pharmaceutical company discovering and developing targeted therapeutics in disease areas of inflammation and immuno-oncology. The Company’s primary focus is anti-inflammatory product candidates targeting the Src Homology 2 (SH2)-containing inositol-5-phosphatase 1 (SHIP1) enzyme, which is a regulator of a cellular signaling pathway in immune cells, known as the phosphatidylinositol-4,5-bisphosphate 3-kinase (PI3K) pathway.
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