Aquinox Pharmaceuticals’ (AQXP) Buy Rating Reiterated at Needham & Company LLC
Aquinox Pharmaceuticals, Inc. (NASDAQ:AQXP)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a research report issued on Thursday. They presently have a $25.00 price target on the stock. Needham & Company LLC’s price target points to a potential upside of 131.37% from the company’s previous close.
The analysts wrote, “Aquinox reported 3Q17 financial results this week. Phase 3 LEADERSHIP 301 trial of rosiptor continues to enroll pts and company continues to guide for top-line results in 3Q18. We expect a positive outcome based on Phase 2 data and reiterate BUY.””
Several other brokerages also recently weighed in on AQXP. ValuEngine downgraded shares of Aquinox Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, September 15th. Zacks Investment Research downgraded shares of Aquinox Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Cantor Fitzgerald restated a “buy” rating and set a $28.00 price target on shares of Aquinox Pharmaceuticals in a research report on Thursday. Canaccord Genuity set a $22.00 price target on shares of Aquinox Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Finally, BidaskClub downgraded shares of Aquinox Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $22.80.
Shares of Aquinox Pharmaceuticals (NASDAQ AQXP) traded down $0.27 during trading hours on Thursday, reaching $10.81. 60,433 shares of the company traded hands, compared to its average volume of 68,510. Aquinox Pharmaceuticals has a 12-month low of $10.45 and a 12-month high of $19.97.
Hedge funds have recently added to or reduced their stakes in the business. Archon Partners LLC raised its position in shares of Aquinox Pharmaceuticals by 44.0% during the 2nd quarter. Archon Partners LLC now owns 18,000 shares of the company’s stock worth $253,000 after buying an additional 5,500 shares in the last quarter. Alps Advisors Inc. raised its position in shares of Aquinox Pharmaceuticals by 4.7% during the 2nd quarter. Alps Advisors Inc. now owns 21,090 shares of the company’s stock worth $297,000 after buying an additional 939 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Aquinox Pharmaceuticals by 16.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 23,260 shares of the company’s stock worth $327,000 after buying an additional 3,299 shares in the last quarter. Sphera Funds Management LTD. bought a new stake in shares of Aquinox Pharmaceuticals during the 2nd quarter worth about $874,000. Finally, Northern Trust Corp raised its position in shares of Aquinox Pharmaceuticals by 3.3% during the 2nd quarter. Northern Trust Corp now owns 83,207 shares of the company’s stock worth $1,171,000 after buying an additional 2,691 shares in the last quarter. Institutional investors own 95.15% of the company’s stock.
Aquinox Pharmaceuticals Company Profile
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.
Receive News & Ratings for Aquinox Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aquinox Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.