PLx Pharma (NASDAQ:PLXP) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of PLx Pharma (NASDAQ:PLXP) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning, 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 research firms have also recently weighed in on PLXP. BWS Financial initiated coverage on PLx Pharma in a research report on Tuesday, September 21st. They set a buy rating and a $29.00 price objective for the company. Raymond James raised PLx Pharma from a market perform rating to an outperform rating and set a $14.00 price target on the stock in a research report on Tuesday, December 7th. Finally, JMP Securities reiterated a buy rating and issued a $21.00 price objective on shares of PLx Pharma in a report on Monday, November 1st. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, PLx Pharma has a consensus rating of Buy and a consensus price target of $21.20.

NASDAQ:PLXP 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 has a 50-day moving average price of $9.08 and a two-hundred day moving average price of $14.06.

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

Several institutional investors have recently made changes to their positions in PLXP. Steward Partners Investment Advisory LLC lifted its position in PLx Pharma by 16.5% during the second quarter. Steward Partners Investment Advisory LLC now owns 10,593 shares of the biotechnology company’s stock worth $146,000 after purchasing an additional 1,500 shares during the period. Sugarloaf Wealth Management LLC acquired a new position in PLx Pharma during the third quarter worth about $29,000. Private Advisor Group LLC raised its stake in PLx Pharma by 6.6% during the second quarter. Private Advisor Group LLC now owns 25,075 shares of the biotechnology company’s stock worth $346,000 after acquiring an additional 1,550 shares in the last quarter. Citigroup Inc. acquired a new position in PLx Pharma during the third quarter worth about $39,000. Finally, FNY Investment Advisers LLC acquired a new position in PLx Pharma during the third quarter worth about $57,000. 34.06% of the stock is owned by institutional investors.

PLx Pharma Company Profile

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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