Zacks Investment Research Upgrades Bio-Path Holdings Inc (BPTH) to “Buy”
Bio-Path Holdings Inc (NASDAQ:BPTH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage currently has a $0.75 price objective on the stock. Zacks Investment Research’s target price would indicate a potential downside of 9.87% from the stock’s current price.
According to Zacks, “BIO-PATH is developing leading-edge, patented, liposomal drug delivery systems, with two clinical cancer drug candidates ready for the clinic and a third siRNA cancer drug undergoing final pre-clinical development. Bio-Path’s drug delivery technology distributes nucleic acid drugs systemically, throughout the human body, via simple intravenous infusion. The delivery technology can be applied both to double stranded and single stranded nucleic acid compounds with the potential to revolutionize the treatment of cancer and other diseases where drugable targets of disease are well characterized. “
Separately, HC Wainwright set a $5.00 target price on Bio-Path Holdings and gave the stock a “buy” rating in a report on Thursday.
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Shares of Bio-Path Holdings (NASDAQ:BPTH) traded up 8.0649% during mid-day trading on Monday, hitting $0.8321. The stock had a trading volume of 174,606 shares. The stock’s market cap is $79.59 million. The firm has a 50 day moving average of $0.87 and a 200-day moving average of $1.14. Bio-Path Holdings has a one year low of $0.70 and a one year high of $3.19.
Bio-Path Holdings (NASDAQ:BPTH) last posted its earnings results on Wednesday, March 15th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. Equities research analysts expect that Bio-Path Holdings will post ($0.09) earnings per share for the current fiscal year.
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An institutional investor recently raised its position in Bio-Path Holdings stock. State Street Corp raised its stake in shares of Bio-Path Holdings Inc (NASDAQ:BPTH) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,084,674 shares of the company’s stock after buying an additional 44,747 shares during the period. State Street Corp owned 1.13% of Bio-Path Holdings worth $1,463,000 at the end of the most recent reporting period. 21.00% of the stock is owned by institutional investors.
Bio-Path Holdings Company Profile
Bio-Path Holdings, Inc is a clinical and preclinical stage oncology focused antisense drug development company. The Company utilizes a technology that achieves systemic delivery for target specific protein inhibition for any gene product that is over-expressed in disease. Its drug delivery and antisense technology, DNAbilize, is a platform that uses P-ethoxy, a deoxyribonucleic acid backbone modification.
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