PLx Pharma (NASDAQ:PLXP) Rating Lowered to Hold at Zacks Investment Research

PLx Pharma (NASDAQ:PLXP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, 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. “

Separately, ValuEngine upgraded PLx Pharma from a “sell” rating to a “hold” rating in a report on Friday, January 10th.

PLXP traded down $0.03 during midday trading on Tuesday, hitting $4.79. The company’s stock had a trading volume of 502 shares, compared to its average volume of 15,573. The firm has a market cap of $42.92 million, a P/E ratio of -3.55 and a beta of 5.09. The firm has a 50-day moving average price of $4.55 and a two-hundred day moving average price of $5.28. PLx Pharma has a 52-week low of $3.25 and a 52-week high of $7.41.

PLx Pharma (NASDAQ:PLXP) last posted its quarterly earnings results on Friday, November 8th. The biotechnology company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.04. The business had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.18 million. On average, sell-side analysts forecast that PLx Pharma will post -1.73 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of PLx Pharma by 150.1% during the 2nd quarter. BlackRock Inc. now owns 9,897 shares of the biotechnology company’s stock worth $72,000 after purchasing an additional 5,939 shares during the period. Heritage Way Advisors LLC purchased a new stake in shares of PLx Pharma during the 3rd quarter worth about $153,000. Renaissance Technologies LLC grew its holdings in shares of PLx Pharma by 10.4% during the 2nd quarter. Renaissance Technologies LLC now owns 64,711 shares of the biotechnology company’s stock worth $466,000 after purchasing an additional 6,099 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of PLx Pharma by 29.2% during the 2nd quarter. Vanguard Group Inc. now owns 145,649 shares of the biotechnology company’s stock worth $1,049,000 after purchasing an additional 32,874 shares during the period. Institutional investors and hedge funds own 22.17% 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.

Further Reading: Price to Earnings Ratio (PE) Basics

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