Dipexium Pharmaceuticals, Inc. (NASDAQ:PLXP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

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. “

Several other equities analysts have also recently commented on the stock. Redburn Partners upgraded shares of Dipexium Pharmaceuticals to an “outperform” rating in a research report on Tuesday, August 1st. UBS AG upgraded shares of Dipexium Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research report on Monday, July 31st. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. Dipexium Pharmaceuticals has a consensus rating of “Buy” and an average price target of $9.63.

Dipexium Pharmaceuticals (PLXP) traded up 14.50% during mid-day trading on Thursday, hitting $7.50. 92,440 shares of the stock traded hands. Dipexium Pharmaceuticals has a 52 week low of $5.60 and a 52 week high of $142.01. The firm’s market cap is $65.16 million. The firm’s 50-day moving average price is $6.53 and its 200-day moving average price is $7.55.

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A number of hedge funds have recently added to or reduced their stakes in PLXP. Susquehanna International Group LLP acquired a new position in Dipexium Pharmaceuticals during the 2nd quarter worth approximately $1,413,000. University of Texas Investment Managment Co. acquired a new position in Dipexium Pharmaceuticals during the 2nd quarter worth approximately $385,000. Finally, Heritage Way Advisors LLC acquired a new position in Dipexium Pharmaceuticals during the 2nd quarter worth approximately $197,000. Institutional investors and hedge funds own 19.68% of the company’s stock.

Dipexium Pharmaceuticals Company Profile

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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