PLx Pharma (NASDAQ:PLXP) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of PLx Pharma (NASDAQ:PLXP) from a sell rating to a hold rating in a research report released on Saturday, Zacks.com reports.

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. “

Other equities research analysts have also issued research reports about the company. ValuEngine raised PLx Pharma from a hold rating to a buy rating in a report on Thursday, April 2nd. JMP Securities started coverage on PLx Pharma in a research note on Monday, May 18th. They set an outperform rating on the stock.

Shares of PLXP opened at $3.10 on Friday. PLx Pharma has a twelve month low of $1.80 and a twelve month high of $7.41. The stock’s 50 day moving average is $3.31 and its two-hundred day moving average is $3.88. The firm has a market capitalization of $28.40 million, a PE ratio of -2.63 and a beta of 4.29.

PLx Pharma (NASDAQ:PLXP) last announced its quarterly earnings data on Friday, May 15th. The biotechnology company reported ($0.37) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.03. On average, equities analysts predict that PLx Pharma will post -1.45 EPS for the current fiscal year.

A hedge fund recently raised its stake in PLx Pharma stock. Heritage Way Advisors LLC increased its stake in shares of PLx Pharma Inc (NASDAQ:PLXP) by 31.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,712 shares of the biotechnology company’s stock after purchasing an additional 10,000 shares during the period. Heritage Way Advisors LLC owned 0.46% of PLx Pharma worth $94,000 as of its most recent SEC filing. Institutional investors and hedge funds own 22.35% of the company’s stock.

PLx Pharma Company Profile

PLx Pharma Inc, a late-stage specialty pharmaceutical company, focuses on developing its PLxGuard delivery system to provide various products in the United States. The company's lead product candidates are Vazalore 325 mg and Vazalore 81 mg, which are formulations of aspirin that use the PLxGuard delivery system to reduce acute gastrointestinal (GI) side effects while providing antiplatelet effectiveness for cardiovascular disease prevention.

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