Aquinox Pharmaceuticals (AQXP) Receives “Neutral” Rating from Cantor Fitzgerald

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Aquinox Pharmaceuticals (NASDAQ:AQXP)‘s stock had its “neutral” rating reissued by analysts at Cantor Fitzgerald in a research note issued on Wednesday.

The analysts wrote, “: We are downgrading our opinion of AQXP stock from and we are lowering our PT from $28 to $2. LEADERSHIP-301 trial and the decision to discontinue all rosiptor development leaves the company with little value other than cash, in our opinion.””

Several other equities research analysts have also issued reports on AQXP. Zacks Investment Research lowered shares of Aquinox Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, March 16th. ValuEngine raised shares of Aquinox Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, April 2nd. BidaskClub lowered shares of Aquinox Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, April 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $25.00 target price on shares of Aquinox Pharmaceuticals in a report on Tuesday, May 8th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $22.80.

Aquinox Pharmaceuticals traded down $12.97, hitting $2.34, during midday trading on Wednesday, Marketbeat.com reports. The stock had a trading volume of 760,483 shares, compared to its average volume of 114,077. The firm has a market capitalization of $362.26 million, a price-to-earnings ratio of -1.09 and a beta of -14.16. Aquinox Pharmaceuticals has a 52-week low of $10.02 and a 52-week high of $16.90.

Aquinox Pharmaceuticals (NASDAQ:AQXP) last released its earnings results on Tuesday, May 8th. The company reported ($0.62) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.70) by $0.08. analysts predict that Aquinox Pharmaceuticals will post -2.24 EPS for the current fiscal year.

In related news, Director Daniel J. Levitt sold 3,906 shares of the stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $12.67, for a total value of $49,489.02. Following the completion of the sale, the director now directly owns 3,906 shares of the company’s stock, valued at approximately $49,489.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Alps Advisors Inc. grew its holdings in Aquinox Pharmaceuticals by 21.0% during the 1st quarter. Alps Advisors Inc. now owns 31,472 shares of the company’s stock valued at $443,000 after buying an additional 5,471 shares in the last quarter. Franklin Resources Inc. grew its holdings in Aquinox Pharmaceuticals by 0.7% during the 1st quarter. Franklin Resources Inc. now owns 1,344,245 shares of the company’s stock valued at $18,927,000 after buying an additional 9,638 shares in the last quarter. Eversept Partners LLC grew its holdings in Aquinox Pharmaceuticals by 59.9% during the 1st quarter. Eversept Partners LLC now owns 31,987 shares of the company’s stock valued at $450,000 after buying an additional 11,987 shares in the last quarter. Deutsche Bank AG grew its holdings in Aquinox Pharmaceuticals by 157.6% during the 4th quarter. Deutsche Bank AG now owns 21,878 shares of the company’s stock valued at $257,000 after buying an additional 13,385 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Aquinox Pharmaceuticals during the 1st quarter valued at approximately $342,000. 91.11% of the stock is owned by institutional investors and hedge funds.

Aquinox Pharmaceuticals Company Profile

Aquinox Pharmaceuticals, Inc, a clinical stage pharmaceutical company, engages in developing novel therapeutics for chronic urological conditions by inflammation and pain. The company focuses on a library of novel compounds that activate SH2-containing inositol-5'-phosphatase 1 (SHIP1) to develop therapeutics for application in inflammation, inflammatory pain, and blood cancers.

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