Zacks Investment Research Downgrades PLx Pharma (NASDAQ:PLXP) to Sell

Zacks Investment Research downgraded shares of PLx Pharma (NASDAQ:PLXP) from a hold rating to a sell rating in a research report report published on Wednesday, 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. “

Several other analysts have also issued reports on the stock. Raymond James upgraded shares of PLx Pharma from a market perform rating to an outperform rating and set a $14.00 target price for the company in a research report on Tuesday, December 7th. BWS Financial began coverage on PLx Pharma in a research note on Tuesday, September 21st. They issued a buy rating and a $29.00 price objective for the company. Finally, JMP Securities reiterated a buy rating and set a $21.00 target price on shares of PLx Pharma in a research report on Monday, November 1st. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, PLx Pharma presently has an average rating of Buy and a consensus price target of $21.20.

PLXP stock opened at $6.99 on Wednesday. PLx Pharma has a 1 year low of $5.20 and a 1 year high of $21.50. The stock’s fifty day moving average price is $9.08 and its 200-day moving average price is $14.06.

PLx Pharma (NASDAQ:PLXP) last posted its earnings results on Friday, November 12th. The biotechnology company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.09. The firm had revenue of $6.60 million during the quarter, compared to the consensus estimate of $4.10 million. The firm’s revenue was up 560.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.40) EPS. On average, equities research analysts expect that PLx Pharma will post -1.65 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of PLx Pharma by 4.3% during the second quarter. Vanguard Group Inc. now owns 947,301 shares of the biotechnology company’s stock valued at $13,073,000 after purchasing an additional 38,665 shares in the last quarter. Maven Securities LTD acquired a new stake in shares of PLx Pharma in the second quarter worth $6,520,000. Marshall Wace LLP lifted its position in PLx Pharma by 56.0% during the second quarter. Marshall Wace LLP now owns 414,186 shares of the biotechnology company’s stock valued at $5,716,000 after purchasing an additional 148,724 shares during the period. Two Sigma Advisers LP grew its holdings in PLx Pharma by 45.5% during the third quarter. Two Sigma Advisers LP now owns 387,900 shares of the biotechnology company’s stock worth $7,486,000 after acquiring an additional 121,300 shares during the period. Finally, EAM Investors LLC boosted its position in PLx Pharma by 34.4% in the 3rd quarter. EAM Investors LLC now owns 371,965 shares of the biotechnology company’s stock worth $7,179,000 after purchasing an additional 95,250 shares in the last quarter. 34.06% of the stock is owned by hedge funds and other institutional investors.

About PLx Pharma

PLx Pharma, Inc is a late-stage specialty pharmaceutical company, which engages in the development and commercialization of technology platform for approved drugs. It offers PLxGuard delivery system, which uses surface acting lipids, such as phospholipids and free fatty acids, to modify the physiochemical properties of various drugs with a targeted release to select portions of the gastrointestinal (GI) tract.

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