Dipexium Pharmaceuticals, Inc. (PLXP) Raised to “Buy” at Zacks Investment Research
Dipexium Pharmaceuticals, Inc. (NASDAQ:PLXP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The brokerage presently has a $7.25 price objective on the biotechnology company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.40% from the company’s current price.
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 analysts also recently issued reports about the stock. UBS AG raised shares of Dipexium Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a report on Monday, July 31st. Redburn Partners raised shares of Dipexium Pharmaceuticals to an “outperform” rating in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $9.63.
Shares of Dipexium Pharmaceuticals (PLXP) opened at 6.45 on Friday. The firm’s market cap is $56.04 million. The stock has a 50 day moving average of $6.51 and a 200-day moving average of $7.60. Dipexium Pharmaceuticals has a 52 week low of $5.60 and a 52 week high of $142.01.
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In other Dipexium Pharmaceuticals news, insider Michael J. Valentino acquired 29,091 shares of Dipexium Pharmaceuticals stock in a transaction dated Wednesday, June 14th. The stock was bought at an average cost of $6.88 per share, with a total value of $200,146.08. Following the acquisition, the insider now owns 122,386 shares of the company’s stock, valued at $842,015.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David Emerson Jorden acquired 32,727 shares of Dipexium Pharmaceuticals 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 $225,161.76. Following the completion of the acquisition, the chief financial officer now directly owns 151,913 shares in the company, valued at approximately $1,045,161.44. The disclosure for this purchase can be found here. Insiders have bought a total of 69,091 shares of company stock valued at $475,346 over the last ninety days. 47.70% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Heritage Way Advisors LLC bought a new position in shares of Dipexium Pharmaceuticals during the 2nd quarter worth about $197,000. University of Texas Investment Managment Co. bought a new position in shares of Dipexium Pharmaceuticals during the 2nd quarter worth about $385,000. Finally, Susquehanna International Group LLP bought a new position in shares of Dipexium Pharmaceuticals during the 2nd quarter worth about $1,413,000. 19.68% of the stock is owned by institutional investors.
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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