Aquinox Pharmaceuticals’ (AQXP) Buy Rating Reiterated at Cantor Fitzgerald

Aquinox Pharmaceuticals (NASDAQ:AQXP)‘s stock had its “buy” rating restated by equities researchers at Cantor Fitzgerald in a note issued to investors on Sunday. They presently have a $28.00 price objective on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 82.89% from the company’s previous close.

The analysts wrote, “R&D day provided contemporary thoughts about IC/BPS and how rosiptor could address an unmet need. We attended an R&D day hosted by AQXP in NYC on Friday, Feb. 9 (presentation here). The company included Dr. Phillip Hanno (Clinical Prof, Stanford U.) on the program to provide a KOL viewpoint of interstitial cystitis/bladder pain syndrome (IC/BPS) and the treatment of it.””

AQXP has been the topic of several other reports. Canaccord Genuity reiterated a “buy” rating and set a $22.00 target price on shares of Aquinox Pharmaceuticals in a report on Tuesday, November 21st. Needham & Company LLC reiterated a “buy” rating and set a $25.00 target price on shares of Aquinox Pharmaceuticals in a report on Thursday, November 9th. Zacks Investment Research lowered Aquinox Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, January 12th. Guggenheim started coverage on Aquinox Pharmaceuticals in a report on Thursday. They set a “buy” rating and a $26.00 target price on the stock. Finally, BidaskClub upgraded Aquinox Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $22.80.

Aquinox Pharmaceuticals (NASDAQ:AQXP) traded up $1.91 during mid-day trading on Friday, reaching $15.31. The company’s stock had a trading volume of 554,055 shares, compared to its average volume of 101,270. The company has a market capitalization of $359.25, a price-to-earnings ratio of -7.93 and a beta of -15.98. Aquinox Pharmaceuticals has a 52-week low of $10.02 and a 52-week high of $19.97.

Aquinox Pharmaceuticals (NASDAQ:AQXP) last posted its earnings results on Wednesday, November 8th. The company reported ($0.50) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.62) by $0.12. equities analysts forecast that Aquinox Pharmaceuticals will post -2.08 earnings per share for the current year.

Several institutional investors have recently modified their holdings of AQXP. Bank of New York Mellon Corp lifted its holdings in shares of 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 valued at $327,000 after purchasing an additional 3,299 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Aquinox Pharmaceuticals by 3.3% in the second quarter. Northern Trust Corp now owns 83,207 shares of the company’s stock valued at $1,171,000 after purchasing an additional 2,691 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Aquinox Pharmaceuticals by 6.6% in the second quarter. Vanguard Group Inc. now owns 282,483 shares of the company’s stock valued at $3,974,000 after purchasing an additional 17,455 shares in the last quarter. Sphera Funds Management LTD. lifted its holdings in shares of Aquinox Pharmaceuticals by 21.7% in the third quarter. Sphera Funds Management LTD. now owns 75,535 shares of the company’s stock valued at $1,072,000 after purchasing an additional 13,450 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of Aquinox Pharmaceuticals in the third quarter valued at about $194,000. Institutional investors own 96.26% of the company’s stock.

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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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