Fmr LLC acquired a new stake in shares of Aerpio Pharmaceuticals Inc (OTCMKTS:ARPO) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 879,100 shares of the company’s stock, valued at approximately $3,648,000.

A number of research firms have weighed in on ARPO. Zacks Investment Research downgraded Aerpio Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, June 25th. Needham & Company LLC began coverage on Aerpio Pharmaceuticals in a research report on Monday, July 23rd. They set a “buy” rating and a $10.00 price target on the stock. Guggenheim began coverage on Aerpio Pharmaceuticals in a report on Wednesday, September 19th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, HC Wainwright set a $9.00 price objective on Aerpio Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, August 15th.

ARPO opened at $2.60 on Friday. Aerpio Pharmaceuticals Inc has a 12 month low of $2.52 and a 12 month high of $6.25.

Aerpio Pharmaceuticals (OTCMKTS:ARPO) last released its quarterly earnings data on Tuesday, August 14th. The company reported ($0.22) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.02. The company had revenue of $1.33 million during the quarter. As a group, sell-side analysts anticipate that Aerpio Pharmaceuticals Inc will post -0.89 EPS for the current year.

About Aerpio Pharmaceuticals

Aerpio Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes proprietary therapeutics for treating ocular diseases. The company's lead product candidate is AKB-9778, a small molecule activator of the tie-2 pathway, which completed Phase 2a clinical trials for the treatment of diabetic macular edema.

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