Zacks Investment Research upgraded shares of PLx Pharma Inc (NASDAQ:PLXP) from a hold rating to a buy rating in a research report sent to investors on Saturday. The brokerage currently has $7.25 price target on the biotechnology company’s stock.
According to Zacks, “PLx Pharma Inc. is a specialty pharmaceutical company. It focused on developing clinically validated and patent-protected PLxGuard(TM) delivery system to provide safe and effective aspirin products. PLx Pharma Inc., formerly known as Dipexium Pharmaceuticals Inc., is based in NEW YORK, United States. “
A number of other brokerages also recently issued reports on PLXP. Redburn Partners raised PLx Pharma to an outperform rating in a report on Tuesday, August 1st. UBS AG raised PLx Pharma from a market perform rating to an outperform rating and set a $12.00 price target for the company in a report on Monday, July 31st. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. PLx Pharma presently has a consensus rating of Buy and a consensus price target of $9.63.
PLx Pharma (NASDAQ:PLXP) remained flat at $6.45 during midday trading on Friday. The company had a trading volume of 23,728 shares. PLx Pharma has a 12 month low of $5.60 and a 12 month high of $142.01. The firm’s 50-day moving average price is $6.51 and its 200-day moving average price is $7.60. The company’s market cap is $56.04 million.
In other PLx Pharma news, CFO David Emerson Jorden acquired 32,727 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was acquired at an average cost of $6.88 per share, for a total transaction of $225,161.76. Following the completion of the transaction, the chief financial officer now directly owns 151,913 shares of the company’s stock, valued at $1,045,161.44. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael J. Valentino acquired 29,091 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was acquired at an average price of $6.88 per share, with a total value of $200,146.08. Following the completion of the transaction, the insider now directly owns 122,386 shares of the company’s stock, valued at $842,015.68. The disclosure for this purchase can be found here. Insiders acquired 69,091 shares of company stock valued at $475,346 over the last three months. 47.70% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Heritage Way Advisors LLC purchased a new stake in shares of PLx Pharma in the second quarter valued at approximately $197,000. University of Texas Investment Managment Co. purchased a new stake in shares of PLx Pharma in the second quarter valued at approximately $385,000. Finally, Susquehanna International Group LLP purchased a new stake in shares of PLx Pharma in the second quarter valued at approximately $1,413,000. Institutional investors and hedge funds own 19.68% of the company’s stock.
About PLx Pharma
PLx Pharma Inc, formerly Dipexium Pharmaceuticals, Inc, is a biopharmaceutical company. The Company is a late stage specialty pharmaceutical company focusing on commercializing its lead products: Aspertec 325 mg and Aspertec 81 mg (Aspertec). The Company’s products and technology includes PLxGuard delivery system, Aspertec 325 mg, PL1100/PL1200 Ibuprofen.
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