Rexahn Pharmaceuticals, Inc. (NYSEMKT:RNN) Downgraded by Zacks Investment Research
Rexahn Pharmaceuticals, Inc. (NYSEMKT:RNN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
According to Zacks, “REXAHN PHARMACTICALS is a biopharmaceutical company leveraging its proprietary technology platform to discover, develop and commercialize innovative treatments for cancer, central nervous system disorders, sexual dysfunction and other unmet medical needs. Rexahn’s compounds are designed to uniquely treat various disease states while significantly minimizing side effects in order to allow patients to regain quality of life through therapy. “
A number of other equities analysts have also weighed in on RNN. Rodman & Renshaw restated a “buy” rating and set a $19.50 price target on shares of Rexahn Pharmaceuticals in a research report on Friday, June 9th. FBR & Co restated an “outperform” rating and set a $14.00 price target (down from $30.00) on shares of Rexahn Pharmaceuticals in a research report on Thursday, June 1st. Finally, HC Wainwright restated a “buy” rating and set a $19.50 price target on shares of Rexahn Pharmaceuticals in a research report on Monday, May 22nd.
Shares of Rexahn Pharmaceuticals (NYSEMKT:RNN) opened at 2.36 on Tuesday. The stock has a 50 day moving average price of $3.56 and a 200 day moving average price of $1.22. The stock’s market capitalization is $60.00 million. Rexahn Pharmaceuticals has a 1-year low of $0.38 and a 1-year high of $7.10.
A hedge fund recently raised its stake in Rexahn Pharmaceuticals stock. Renaissance Technologies LLC boosted its position in shares of Rexahn Pharmaceuticals, Inc. (NYSEMKT:RNN) by 52.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,896,391 shares of the company’s stock after buying an additional 1,694,398 shares during the period. Renaissance Technologies LLC owned approximately 2.06% of Rexahn Pharmaceuticals worth $695,000 as of its most recent filing with the SEC.
Rexahn Pharmaceuticals Company Profile
Rexahn Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company engaged in the discovery, development and commercialization of treatments for cancer. The Company’s clinical-stage drug candidates in active development include Archexin, RX-3117 and Supinoxin (RX-5902). Archexin is a potent inhibitor of the protein kinase Akt-1, which focuses on cancer cell proliferation, survival, angiogenesis, metastasis and drug resistance.
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