Rexahn Pharmaceuticals, Inc. (RNN) Sees Significant Decrease in Short Interest
Rexahn Pharmaceuticals, Inc. (NYSEAMERICAN:RNN) saw a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 1,842,747 shares, a decrease of 16.6% from the November 15th total of 2,209,414 shares. Based on an average daily volume of 373,735 shares, the short-interest ratio is presently 4.9 days. Approximately 5.9% of the shares of the stock are sold short.
Shares of Rexahn Pharmaceuticals (NYSEAMERICAN:RNN) opened at $2.04 on Tuesday. Rexahn Pharmaceuticals has a 12-month low of $1.30 and a 12-month high of $7.10.
Several research firms have weighed in on RNN. Zacks Investment Research raised Rexahn Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a report on Friday, November 10th. ValuEngine raised Rexahn Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Thursday, November 2nd. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Rexahn Pharmaceuticals in a report on Monday, August 14th. Finally, Seaport Global Securities reissued a “buy” rating and issued a $13.00 target price on shares of Rexahn Pharmaceuticals in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $13.65.
Rexahn Pharmaceuticals Company Profile
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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