Zacks Investment Research Upgrades Dipexium Pharmaceuticals, Inc. (PLXP) to “Hold”

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

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. “

PLXP has been the subject of several other research reports. UBS AG upgraded shares of Dipexium Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a report on Monday, July 31st. Redburn Partners upgraded shares of Dipexium Pharmaceuticals to an “outperform” rating in a report on Tuesday, August 1st. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Dipexium Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $9.63.

Dipexium Pharmaceuticals (NASDAQ:PLXP) opened at 6.45 on Thursday. The firm’s 50 day moving average is $6.53 and its 200-day moving average is $7.55. The company’s market cap is $56.04 million. Dipexium Pharmaceuticals has a 52 week low of $5.60 and a 52 week high of $126.72.

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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Heritage Way Advisors LLC bought a new position in shares of Dipexium Pharmaceuticals during the 2nd quarter worth approximately $197,000. University of Texas Investment Managment Co. bought a new position in shares of Dipexium Pharmaceuticals during the 2nd quarter worth approximately $385,000. Finally, Susquehanna International Group LLP bought a new position in shares of Dipexium Pharmaceuticals during the 2nd quarter worth approximately $1,413,000. Hedge funds and other 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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