Zacks Investment Research Downgrades Dipexium Pharmaceuticals, Inc. (PLXP) to Sell

Dipexium Pharmaceuticals, Inc. (NASDAQ:PLXP) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report issued on Tuesday.

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. “

Several other research analysts have also weighed in on the stock. Redburn Partners upgraded shares of Dipexium Pharmaceuticals to an “outperform” rating in a research report on Tuesday, August 1st. UBS AG upgraded shares of Dipexium Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Dipexium Pharmaceuticals has an average rating of “Hold” and a consensus target price of $9.63.

Dipexium Pharmaceuticals (NASDAQ PLXP) traded up 0.250% during midday trading on Tuesday, hitting $6.416. 2,198 shares of the stock traded hands. The company’s 50 day moving average is $6.53 and its 200-day moving average is $7.55. The company’s market cap is $55.74 million. Dipexium Pharmaceuticals has a one year low of $5.60 and a one year high of $126.72.

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Institutional investors and hedge funds have recently modified their holdings of the business. Heritage Way Advisors LLC acquired a new position in Dipexium Pharmaceuticals during the second quarter worth about $197,000. University of Texas Investment Managment Co. acquired a new position in Dipexium Pharmaceuticals during the second quarter worth about $385,000. Finally, Susquehanna International Group LLP acquired a new position in Dipexium Pharmaceuticals during the second quarter worth about $1,413,000. Institutional investors own 19.68% of the company’s stock.

Dipexium Pharmaceuticals Company Profile

PLx Pharma Inc, formerly Dipexium Pharmaceuticals, Inc, is a biopharmaceutical company. The Company is a late stage specialty pharmaceutical company focusing on commercializing its lead products: Aspertec 325 mg and Aspertec 81 mg (Aspertec). The Company’s products and technology includes PLxGuard delivery system, Aspertec 325 mg, PL1100/PL1200 Ibuprofen.

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