PLx Pharma (NASDAQ:PLXP) Rating Lowered to Hold at Zacks Investment Research

PLx Pharma (NASDAQ:PLXP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

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. “

Separately, ValuEngine raised PLx Pharma from a “sell” rating to a “hold” rating in a research report on Friday, January 10th.

Shares of PLXP stock traded down $0.03 on Tuesday, hitting $4.79. 502 shares of the stock traded hands, compared to its average volume of 15,573. The company has a market capitalization of $42.92 million, a PE ratio of -3.55 and a beta of 5.09. PLx Pharma has a 1-year low of $3.25 and a 1-year high of $7.41. The company’s fifty day moving average is $4.55 and its 200 day moving average is $5.28.

PLx Pharma (NASDAQ:PLXP) last posted its quarterly earnings results on Friday, November 8th. The biotechnology company reported ($0.46) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.50) by $0.04. The firm had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.18 million. On average, analysts predict that PLx Pharma will post -1.73 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of PLXP. Vanguard Group Inc. grew its stake in PLx Pharma by 29.2% during the 2nd quarter. Vanguard Group Inc. now owns 145,649 shares of the biotechnology company’s stock worth $1,049,000 after buying an additional 32,874 shares during the last quarter. Renaissance Technologies LLC grew its stake in PLx Pharma by 10.4% during the 2nd quarter. Renaissance Technologies LLC now owns 64,711 shares of the biotechnology company’s stock worth $466,000 after buying an additional 6,099 shares during the last quarter. Heritage Way Advisors LLC bought a new position in PLx Pharma during the 3rd quarter worth $153,000. Finally, BlackRock Inc. grew its stake in PLx Pharma by 150.1% during the 2nd quarter. BlackRock Inc. now owns 9,897 shares of the biotechnology company’s stock worth $72,000 after buying an additional 5,939 shares during the last quarter. 22.17% of the stock is currently owned by institutional investors and hedge funds.

About PLx Pharma

PLx Pharma Inc, a late-stage specialty pharmaceutical company, focuses on developing its PLxGuard delivery system to provide various products in the United States. The company's lead product candidates are Vazalore 325 mg and Vazalore 81 mg, which are formulations of aspirin that use the PLxGuard delivery system to reduce acute gastrointestinal (GI) side effects while providing antiplatelet effectiveness for cardiovascular disease prevention.

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