HC Wainwright started coverage on shares of Aerpio Pharmaceuticals (OTCMKTS:ARPO) in a research note published on Wednesday, Benzinga reports. The brokerage issued a neutral rating and a $1.00 target price on the stock.
A number of other brokerages have also recently commented on ARPO. Cantor Fitzgerald set a $8.00 price objective on shares of Aerpio Pharmaceuticals and gave the company a buy rating in a research note on Tuesday, March 5th. National Securities cut shares of Aerpio Pharmaceuticals from a buy rating to a neutral rating in a research note on Monday, March 18th. Guggenheim cut shares of Aerpio Pharmaceuticals from a buy rating to a neutral rating in a research note on Monday, March 18th. Finally, Zacks Investment Research raised shares of Aerpio Pharmaceuticals from a hold rating to a buy rating and set a $1.25 price target on the stock in a research note on Tuesday, April 9th. Four analysts have rated the stock with 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 price target of $6.05.
Shares of OTCMKTS ARPO opened at $0.97 on Wednesday. Aerpio Pharmaceuticals has a 52 week low of $0.88 and a 52 week high of $4.95.
In other Aerpio Pharmaceuticals news, major shareholder Bioventures Ltd Novartis sold 231,763 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $0.94, for a total transaction of $217,857.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 1,750,446 shares of company stock worth $1,774,045 over the last ninety days. 38.60% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HarbourVest Partners LLC acquired a new stake in shares of Aerpio Pharmaceuticals in the fourth quarter worth approximately $246,000. Vanguard Group Inc. acquired a new stake in shares of Aerpio Pharmaceuticals in the third quarter worth approximately $3,331,000. Vanguard Group Inc acquired a new stake in shares of Aerpio Pharmaceuticals in the third quarter worth approximately $3,331,000. Acadian Asset Management LLC acquired a new stake in shares of Aerpio Pharmaceuticals in the fourth quarter worth approximately $28,000. Finally, Alambic Investment Management L.P. acquired a new stake in shares of Aerpio Pharmaceuticals in the first quarter worth approximately $85,000. 0.37% of the stock is currently owned by institutional investors and hedge funds.
About Aerpio Pharmaceuticals
Aerpio Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes proprietary therapeutics for treating ocular diseases. The company's lead product candidate is AKB-9778, a small molecule activator of the tie-2 pathway, which completed Phase 2a clinical trials for the treatment of diabetic macular edema.
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