Aquinox Pharmaceuticals, Inc. (NASDAQ:AQXP) has been given a consensus recommendation of “Buy” by the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $24.67.

Several research firms have weighed in on AQXP. Zacks Investment Research downgraded shares of Aquinox Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. Canaccord Genuity set a $22.00 price target on shares of Aquinox Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, August 8th. BidaskClub raised shares of Aquinox Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. ValuEngine raised shares of Aquinox Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Cantor Fitzgerald set a $28.00 price target on shares of Aquinox Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, May 9th.

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In other Aquinox Pharmaceuticals news, insider David Main sold 15,625 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $13.26, for a total value of $207,187.50. Following the completion of the sale, the insider now directly owns 77,530 shares of the company’s stock, valued at $1,028,047.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.70% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Investment Centers of America Inc. purchased a new position in shares of Aquinox Pharmaceuticals during the first quarter valued at approximately $172,000. Archon Partners LLC increased its position in shares of Aquinox Pharmaceuticals by 44.0% in the second quarter. Archon Partners LLC now owns 18,000 shares of the company’s stock valued at $253,000 after buying an additional 5,500 shares during the period. Alps Advisors Inc. increased its position in shares of Aquinox Pharmaceuticals by 4.7% in the second quarter. Alps Advisors Inc. now owns 21,090 shares of the company’s stock valued at $297,000 after buying an additional 939 shares during the period. Bank of New York Mellon Corp increased its position in shares of Aquinox Pharmaceuticals by 16.5% in the second quarter. Bank of New York Mellon Corp now owns 23,260 shares of the company’s stock valued at $327,000 after buying an additional 3,299 shares during the period. Finally, Sphera Funds Management LTD. purchased a new position in shares of Aquinox Pharmaceuticals during the second quarter valued at approximately $874,000. 98.20% of the stock is owned by hedge funds and other institutional investors.

Shares of Aquinox Pharmaceuticals (AQXP) traded up 1.66% on Tuesday, reaching $14.70. The company had a trading volume of 45,003 shares. Aquinox Pharmaceuticals has a one year low of $8.97 and a one year high of $19.97. The company’s market capitalization is $344.92 million. The company’s 50-day moving average is $14.43 and its 200-day moving average is $15.25.

Aquinox Pharmaceuticals (NASDAQ:AQXP) last posted its quarterly earnings results on Tuesday, August 8th. The company reported ($0.59) earnings per share for the quarter, hitting the consensus estimate of ($0.59). Equities research analysts predict that Aquinox Pharmaceuticals will post ($2.15) earnings per share for the current year.

About Aquinox Pharmaceuticals

Aquinox Pharmaceuticals, Inc is a clinical-stage pharmaceutical company discovering and developing targeted therapeutics in disease areas of inflammation and immuno-oncology. The Company’s primary focus is anti-inflammatory product candidates targeting the Src Homology 2 (SH2)-containing inositol-5-phosphatase 1 (SHIP1) enzyme, which is a regulator of a cellular signaling pathway in immune cells, known as the phosphatidylinositol-4,5-bisphosphate 3-kinase (PI3K) pathway.

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