Rexahn Pharmaceuticals, Inc. (RNN) Receives Consensus Rating of “Buy” from Brokerages
Rexahn Pharmaceuticals, Inc. (NYSEMKT:RNN) has been assigned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the company, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $14.06.
Several equities analysts recently weighed in on the stock. Seaport Global Securities assumed coverage on shares of Rexahn Pharmaceuticals in a report on Friday. They set a “buy” rating on the stock. Ifs Securities restated an “outperform” rating on shares of Rexahn Pharmaceuticals in a report on Monday, August 7th. Zacks Investment Research upgraded shares of Rexahn Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a report on Wednesday. HC Wainwright restated a “buy” rating and set a $20.00 target price on shares of Rexahn Pharmaceuticals in a report on Monday, August 14th. Finally, Rodman & Renshaw restated a “buy” rating and set a $19.50 target price on shares of Rexahn Pharmaceuticals in a report on Friday, June 9th.
Shares of Rexahn Pharmaceuticals (NYSEMKT RNN) opened at 2.4441 on Friday. The firm’s market capitalization is $69.56 million. The stock has a 50 day moving average price of $2.32 and a 200 day moving average price of $2.21. Rexahn Pharmaceuticals has a 52 week low of $0.39 and a 52 week high of $7.10.
Hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC lifted its holdings in Rexahn Pharmaceuticals by 17.6% in the 1st quarter. Renaissance Technologies LLC now owns 5,758,391 shares of the company’s stock worth $2,937,000 after buying an additional 862,000 shares in the last quarter. Sabby Management LLC acquired a new position in Rexahn Pharmaceuticals in the 2nd quarter worth $706,000. Finally, Susquehanna International Group LLP acquired a new position in Rexahn Pharmaceuticals in the 2nd quarter worth $2,905,000.
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About Rexahn Pharmaceuticals
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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