Zacks Investment Research cut shares of Aquinox Pharmaceuticals (NASDAQ:AQXP) from a buy rating to a hold rating in a research report sent to investors on Friday.

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. “

AQXP has been the topic of several other research reports. Canaccord Genuity restated a buy rating and issued a $22.00 target price on shares of Aquinox Pharmaceuticals in a report on Tuesday, November 21st. ValuEngine cut shares of Aquinox Pharmaceuticals from a hold rating to a sell rating in a report on Friday, September 15th. Needham & Company LLC restated a buy rating and issued a $25.00 target price on shares of Aquinox Pharmaceuticals in a report on Thursday, November 9th. Finally, Cantor Fitzgerald restated a buy rating and issued a $28.00 target price on shares of Aquinox Pharmaceuticals in a report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Aquinox Pharmaceuticals currently has an average rating of Hold and a consensus target price of $22.00.

Shares of Aquinox Pharmaceuticals (AQXP) traded down $0.14 during mid-day trading on Friday, reaching $11.51. 29,100 shares of the company traded hands, compared to its average volume of 68,500. Aquinox Pharmaceuticals has a 52 week low of $10.02 and a 52 week high of $19.97. The stock has a market capitalization of $270.08, a PE ratio of -5.96 and a beta of -16.96.

Aquinox Pharmaceuticals (NASDAQ:AQXP) last issued its earnings results on Wednesday, November 8th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.62) by $0.12. equities research analysts expect that Aquinox Pharmaceuticals will post -2.08 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Alyeska Investment Group L.P. boosted its stake in shares of Aquinox Pharmaceuticals by 1.8% during the 3rd quarter. Alyeska Investment Group L.P. now owns 282,569 shares of the company’s stock worth $4,010,000 after acquiring an additional 5,046 shares during the last quarter. University of Notre Dame DU Lac boosted its stake in shares of Aquinox Pharmaceuticals by 11.1% during the 3rd quarter. University of Notre Dame DU Lac now owns 190,283 shares of the company’s stock worth $2,700,000 after acquiring an additional 19,066 shares during the last quarter. Investment Centers of America Inc. purchased a new position in shares of Aquinox Pharmaceuticals during the 3rd quarter worth $175,000. Citadel Advisors LLC purchased a new position in shares of Aquinox Pharmaceuticals during the 3rd quarter worth $194,000. Finally, Sphera Funds Management LTD. boosted its stake in shares of Aquinox Pharmaceuticals by 21.7% during the 3rd quarter. Sphera Funds Management LTD. now owns 75,535 shares of the company’s stock worth $1,072,000 after acquiring an additional 13,450 shares during the last quarter. Institutional investors and hedge funds own 96.25% of the company’s stock.

WARNING: This story was originally reported by Daily Political and is owned by of Daily Political. If you are viewing this story on another website, it was stolen and republished in violation of United States & international copyright and trademark law. The legal version of this story can be read at https://www.dailypolitical.com/2018/01/15/aquinox-pharmaceuticals-aqxp-downgraded-by-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on Aquinox Pharmaceuticals (AQXP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Aquinox Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aquinox Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.