Aquinox Pharmaceuticals (AQXP) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Aquinox Pharmaceuticals (NASDAQ:AQXP) from a buy rating to a hold rating in a report released on Friday.

According to Zacks, “Aquinox Pharmaceuticals, Inc. is a clinical-stage pharmaceutical company. The Company discovers and develops oral drug candidates to treat inflammation and cancer. Aquinox Pharmaceuticals, Inc. is headquartered in Vancouver, Canada. “

Other research analysts have also recently issued research reports about the company. Canaccord Genuity set a $22.00 price target on Aquinox Pharmaceuticals and gave the stock a buy rating in a research note on Tuesday, December 19th. Needham & Company LLC reiterated a buy rating and issued a $25.00 price target on shares of Aquinox Pharmaceuticals in a research note on Thursday, November 9th. Cantor Fitzgerald reiterated a buy rating and issued a $28.00 price target on shares of Aquinox Pharmaceuticals in a research note on Thursday, November 9th. Finally, ValuEngine cut Aquinox Pharmaceuticals from a hold rating to a sell rating in a research note on Friday, September 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $22.00.

Aquinox Pharmaceuticals (NASDAQ:AQXP) traded down $0.14 during trading hours on Friday, hitting $11.51. The company had a trading volume of 29,122 shares, compared to its average volume of 120,149. Aquinox Pharmaceuticals has a fifty-two week low of $10.02 and a fifty-two week high of $19.97. The firm has a market capitalization of $273.37, a PE ratio of -5.96 and a beta of -16.96.

Several large investors have recently added to or reduced their stakes in AQXP. Nexthera Capital LP acquired a new position in shares of Aquinox Pharmaceuticals in the second quarter worth about $1,276,000. University of Notre Dame DU Lac increased its holdings in Aquinox Pharmaceuticals by 11.1% in the third quarter. University of Notre Dame DU Lac now owns 190,283 shares of the company’s stock valued at $2,700,000 after buying an additional 19,066 shares during the last quarter. Vanguard Group Inc. increased its holdings in Aquinox Pharmaceuticals by 6.6% in the second quarter. Vanguard Group Inc. now owns 282,483 shares of the company’s stock valued at $3,974,000 after buying an additional 17,455 shares during the last quarter. Citadel Advisors LLC bought a new stake in Aquinox Pharmaceuticals in the third quarter valued at about $194,000. Finally, Sphera Funds Management LTD. increased its holdings in Aquinox Pharmaceuticals by 21.7% in the third quarter. Sphera Funds Management LTD. now owns 75,535 shares of the company’s stock valued at $1,072,000 after buying an additional 13,450 shares during the last quarter. Institutional investors and hedge funds own 96.25% of the company’s stock.

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Aquinox Pharmaceuticals Company Profile

Aquinox Pharmaceuticals, Inc is a clinical-stage pharmaceutical company discovering and developing targeted therapeutics in disease areas of inflammation and immuno-oncology. The Company’s primary focus is anti-inflammatory product candidates targeting the Src Homology 2 (SH2)-containing inositol-5-phosphatase 1 (SHIP1) enzyme, which is a regulator of a cellular signaling pathway in immune cells, known as the phosphatidylinositol-4,5-bisphosphate 3-kinase (PI3K) pathway.

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