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

Zacks Investment Research upgraded shares of PLx Pharma (NASDAQ:PLXP) from a sell rating to a hold rating in a report published on Saturday morning, 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. “

A number of other analysts also recently commented on PLXP. ValuEngine upgraded PLx Pharma from a hold rating to a buy rating in a research note on Thursday, April 2nd. JMP Securities initiated coverage on PLx Pharma in a research note on Monday, May 18th. They issued an outperform rating on the stock.

PLx Pharma stock opened at $3.10 on Friday. The business’s 50-day simple moving average is $3.31 and its two-hundred day simple moving average is $3.88. The company has a market cap of $28.40 million, a PE ratio of -2.63 and a beta of 4.29. PLx Pharma has a fifty-two week low of $1.80 and a fifty-two week high of $7.41.

PLx Pharma (NASDAQ:PLXP) last posted its quarterly earnings results on Friday, May 15th. The biotechnology company reported ($0.37) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.03. Analysts expect 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 holdings in PLx Pharma Inc (NASDAQ:PLXP) by 31.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,712 shares of the biotechnology company’s stock after purchasing an additional 10,000 shares during the quarter. Heritage Way Advisors LLC owned 0.46% of PLx Pharma worth $94,000 at the end of the most recent reporting period. 22.35% of the stock is owned by hedge funds and other institutional investors.

About PLx Pharma

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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