Aquinox Pharmaceuticals, Inc. (AQXP) Given “Buy” Rating at Needham & Company LLC
Needham & Company LLC reiterated their buy rating on shares of Aquinox Pharmaceuticals, Inc. (NASDAQ:AQXP) in a report issued on Thursday morning. The brokerage currently has a $25.00 target price on the stock.
“Aquinox reported 3Q17 financial results this week. Phase 3 LEADERSHIP 301 trial of rosiptor continues to enroll pts and company continues to guide for top-line results in 3Q18. We expect a positive outcome based on Phase 2 data and reiterate BUY.”,” the firm’s analyst wrote.
Several other research analysts have also recently commented on the company. BidaskClub cut Aquinox Pharmaceuticals from a hold rating to a sell rating in a research report on Friday, July 28th. Zacks Investment Research cut Aquinox Pharmaceuticals from a hold rating to a sell rating in a research report on Tuesday, October 10th. ValuEngine cut Aquinox Pharmaceuticals from a hold rating to a sell rating in a research report on Friday, September 15th. Cantor Fitzgerald reissued a buy rating and set a $28.00 price target on shares of Aquinox Pharmaceuticals in a research report on Thursday. Finally, Canaccord Genuity set a $22.00 price target on Aquinox Pharmaceuticals and gave the company a buy rating in a research report on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $22.50.
Aquinox Pharmaceuticals (NASDAQ:AQXP) opened at $10.88 on Thursday. Aquinox Pharmaceuticals has a 52-week low of $10.68 and a 52-week high of $19.97.
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A number of large investors have recently added to or reduced their stakes in AQXP. Geode Capital Management LLC raised its stake in Aquinox Pharmaceuticals by 10.0% in the first quarter. Geode Capital Management LLC now owns 121,532 shares of the company’s stock valued at $2,028,000 after buying an additional 11,035 shares during the period. Alps Advisors Inc. raised its stake in 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 period. Bank of New York Mellon Corp raised its stake in 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 period. Archon Partners LLC raised its stake in 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 period. Finally, Sphera Funds Management LTD. bought a new stake in Aquinox Pharmaceuticals in the second quarter valued at approximately $874,000. Hedge funds and other institutional investors own 95.15% of the company’s stock.
About Aquinox Pharmaceuticals
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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