Aerpio Pharmaceuticals (OTCMKTS:ARPO) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Aerpio Pharmaceuticals (OTCMKTS:ARPO) from a hold rating to a buy rating in a report published on Thursday, Zacks.com reports. They currently have $0.75 price target on the stock.

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. “

Separately, HC Wainwright reissued a hold rating and set a $1.00 target price on shares of Aerpio Pharmaceuticals in a research note on Monday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Aerpio Pharmaceuticals has a consensus rating of Hold and an average price target of $3.25.

Shares of OTCMKTS:ARPO remained flat at $$0.65 during mid-day trading on Thursday. 89,200 shares of the stock were exchanged, compared to its average volume of 371,097. The firm’s fifty day simple moving average is $0.64 and its two-hundred day simple moving average is $0.62. Aerpio Pharmaceuticals has a 52 week low of $0.45 and a 52 week high of $4.25.

Large investors have recently bought and sold shares of the company. Jane Street Group LLC increased its position in shares of Aerpio Pharmaceuticals by 200.1% during the second quarter. Jane Street Group LLC now owns 44,693 shares of the company’s stock worth $41,000 after acquiring an additional 29,800 shares in the last quarter. BlackRock Inc. increased its position in shares of Aerpio Pharmaceuticals by 78.8% during the second quarter. BlackRock Inc. now owns 165,222 shares of the company’s stock worth $150,000 after acquiring an additional 72,796 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Aerpio Pharmaceuticals by 153.8% during the fourth quarter. Renaissance Technologies LLC now owns 407,125 shares of the company’s stock worth $254,000 after acquiring an additional 246,725 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Aerpio Pharmaceuticals by 9.1% during the second quarter. Vanguard Group Inc. now owns 1,300,889 shares of the company’s stock worth $1,183,000 after acquiring an additional 108,749 shares in the last quarter. 0.37% of the stock is owned by 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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