Aquinox Pharmaceuticals (AQXP) Earns Buy Rating from Analysts at Guggenheim

Equities research analysts at Guggenheim began coverage on shares of Aquinox Pharmaceuticals (NASDAQ:AQXP) in a research report issued on Thursday, The Fly reports. The firm set a “buy” rating on the stock.

A number of other brokerages have also recently issued reports on AQXP. BidaskClub raised shares of Aquinox Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Monday. Zacks Investment Research raised shares of Aquinox Pharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Tuesday, January 9th. Canaccord Genuity set a $22.00 price objective on shares of Aquinox Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, December 19th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Aquinox Pharmaceuticals in a research note on Thursday, November 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Aquinox Pharmaceuticals in a research note on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $22.00.

Aquinox Pharmaceuticals (NASDAQ:AQXP) traded down $0.22 on Thursday, hitting $13.40. 185,511 shares of the stock traded hands, compared to its average volume of 93,519. Aquinox Pharmaceuticals has a twelve month low of $10.02 and a twelve month high of $19.97. The company has a market capitalization of $314.43, a PE ratio of -6.94 and a beta of -15.97.

Aquinox Pharmaceuticals (NASDAQ:AQXP) last announced its quarterly earnings data on Wednesday, November 8th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.12. research analysts anticipate that Aquinox Pharmaceuticals will post -2.08 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in Aquinox Pharmaceuticals by 16.5% in the second quarter. Bank of New York Mellon Corp now owns 23,260 shares of the company’s stock worth $327,000 after purchasing an additional 3,299 shares during the period. Northern Trust Corp raised its holdings in Aquinox Pharmaceuticals by 3.3% in the second quarter. Northern Trust Corp now owns 83,207 shares of the company’s stock worth $1,171,000 after purchasing an additional 2,691 shares during the period. Vanguard Group Inc. raised its holdings in Aquinox Pharmaceuticals by 6.6% in the second quarter. Vanguard Group Inc. now owns 282,483 shares of the company’s stock worth $3,974,000 after purchasing an additional 17,455 shares during the period. Sphera Funds Management LTD. raised its holdings in Aquinox Pharmaceuticals by 21.7% in the third quarter. Sphera Funds Management LTD. now owns 75,535 shares of the company’s stock worth $1,072,000 after purchasing an additional 13,450 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in Aquinox Pharmaceuticals in the third quarter worth $194,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

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About Aquinox Pharmaceuticals

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.

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