Aerpio Pharmaceuticals (ARPO) Cut to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of Aerpio Pharmaceuticals (OTCMKTS:ARPO) from a buy rating to a hold rating in a report released on Tuesday morning.
According to Zacks, “Aerpio Pharmaceuticals Inc. is a biopharmaceutical company. It focuses on the development of novel therapeutics for vascular disorders with a concentration on diseases of the eye. The Company’ product candidates include AKB?9778, ARP1536 and AKB-4924 which are in clinical stage. Aerpio Pharmaceuticals Inc. is based in Cincinnati, United States. “
ARPO has been the topic of several other reports. Guggenheim assumed coverage on shares of Aerpio Pharmaceuticals in a report on Wednesday, September 19th. They issued a buy rating and a $10.00 target price on the stock. HC Wainwright set a $9.00 target price on shares of Aerpio Pharmaceuticals and gave the company a buy rating in a report on Wednesday, August 15th. Finally, Needham & Company LLC assumed coverage on shares of Aerpio Pharmaceuticals in a report on Monday, July 23rd. They issued a buy rating and a $10.00 target price on the stock.
Aerpio Pharmaceuticals (OTCMKTS:ARPO) last issued its quarterly earnings data on Tuesday, August 14th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.02. The business had revenue of $1.33 million during the quarter. As a group, equities analysts expect that Aerpio Pharmaceuticals will post -0.89 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in ARPO. Millennium Management LLC bought a new stake in shares of Aerpio Pharmaceuticals during the 2nd quarter valued at approximately $934,000. Nexthera Capital LP bought a new stake in shares of Aerpio Pharmaceuticals during the 2nd quarter valued at approximately $1,240,000. FMR LLC bought a new stake in shares of Aerpio Pharmaceuticals during the 2nd quarter valued at approximately $3,648,000. Finally, Orbimed Advisors LLC bought a new stake in shares of Aerpio Pharmaceuticals during the 2nd quarter valued at approximately $21,555,000. 0.37% of the stock is currently owned by hedge funds and other institutional investors.
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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