Dipexium Pharmaceuticals, Inc. (NASDAQ:PLXP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

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. “

Other equities research analysts have also issued reports about the stock. Redburn Partners raised shares of Dipexium Pharmaceuticals to an “outperform” rating in a report on Tuesday, August 1st. UBS AG raised shares of Dipexium Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a research note on Monday, July 31st. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $9.63.

Dipexium Pharmaceuticals (NASDAQ PLXP) remained flat at $6.45 during midday trading on Friday. 23,728 shares of the stock were exchanged. The firm’s market capitalization is $56.04 million. Dipexium Pharmaceuticals has a 12-month low of $5.60 and a 12-month high of $142.01. The stock has a 50 day moving average price of $6.51 and a 200 day moving average price of $7.60.

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In other news, insider Michael J. Valentino bought 29,091 shares of the stock in a transaction dated Wednesday, June 14th. The shares were acquired at an average cost of $6.88 per share, with a total value of $200,146.08. Following the purchase, the insider now directly owns 122,386 shares in the company, valued at approximately $842,015.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO David Emerson Jorden bought 32,727 shares of the stock in a transaction dated Wednesday, June 14th. The shares were purchased at an average cost of $6.88 per share, for a total transaction of $225,161.76. Following the completion of the purchase, the chief financial officer now owns 151,913 shares in the company, valued at $1,045,161.44. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 69,091 shares of company stock worth $475,346. Corporate insiders own 47.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Heritage Way Advisors LLC purchased a new position in Dipexium Pharmaceuticals in the 2nd quarter valued at about $197,000. University of Texas Investment Managment Co. purchased a new position in Dipexium Pharmaceuticals in the 2nd quarter valued at about $385,000. Finally, Susquehanna International Group LLP purchased a new position in Dipexium Pharmaceuticals in the 2nd quarter valued at about $1,413,000. 19.68% of the stock is currently owned by institutional investors and hedge funds.

About Dipexium Pharmaceuticals

PLx Pharma Inc, formerly Dipexium Pharmaceuticals, Inc, is a biopharmaceutical company. The Company is a late stage specialty pharmaceutical company focusing on commercializing its lead products: Aspertec 325 mg and Aspertec 81 mg (Aspertec). The Company’s products and technology includes PLxGuard delivery system, Aspertec 325 mg, PL1100/PL1200 Ibuprofen.

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