Zacks Investment Research Lowers PLx Pharma (PLXP) to Sell

Zacks Investment Research downgraded shares of PLx Pharma (NASDAQ:PLXP) from a hold rating to a sell rating in a research note published on Tuesday 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. “

Several other research analysts also recently issued reports on PLXP. Raymond James downgraded shares of PLx Pharma from an outperform rating to a market perform rating in a report on Monday, January 14th. ValuEngine downgraded shares of PLx Pharma from a hold rating to a sell rating in a report on Friday, January 25th. JMP Securities initiated coverage on shares of PLx Pharma in a report on Thursday, March 14th. They set an outperform rating on the stock. Finally, Janney Montgomery Scott initiated coverage on shares of PLx Pharma in a report on Friday, April 12th. They set a buy rating on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $4.75.

NASDAQ:PLXP opened at $5.72 on Tuesday. PLx Pharma has a 52-week low of $1.00 and a 52-week high of $6.44. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.14 and a current ratio of 4.86.

PLx Pharma (NASDAQ:PLXP) last posted its quarterly earnings data on Friday, May 10th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.03). PLx Pharma had a positive return on equity of 31.28% and a negative net margin of 1,507.67%. The company had revenue of $0.32 million for the quarter, compared to the consensus estimate of $0.30 million. As a group, equities analysts expect that PLx Pharma will post -1.28 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its stake in PLx Pharma by 34.1% in the first quarter. Renaissance Technologies LLC now owns 58,612 shares of the biotechnology company’s stock valued at $308,000 after acquiring an additional 14,900 shares during the period. Northern Trust Corp bought a new stake in PLx Pharma in the first quarter valued at about $59,000. Park West Asset Management LLC increased its stake in PLx Pharma by 37.0% in the fourth quarter. Park West Asset Management LLC now owns 1,473,218 shares of the biotechnology company’s stock valued at $2,254,000 after acquiring an additional 397,495 shares during the period. Vanguard Group Inc increased its stake in PLx Pharma by 98.0% in the third quarter. Vanguard Group Inc now owns 163,431 shares of the biotechnology company’s stock valued at $662,000 after acquiring an additional 80,910 shares during the period. Finally, Vanguard Group Inc. increased its stake in PLx Pharma by 98.0% in the third quarter. Vanguard Group Inc. now owns 163,431 shares of the biotechnology company’s stock valued at $662,000 after acquiring an additional 80,910 shares during the period. 24.24% of the stock is currently owned by institutional investors and hedge funds.

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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