Eloxx Pharmaceuticals (OTCMKTS:ELOX) Downgraded by Zacks Investment Research

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Eloxx Pharmaceuticals (OTCMKTS:ELOX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Eloxx Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. It engaged in developing novel small molecule medicines to treat many rare and ultra-rare genetic diseases caused by nonsense mutations. The company’s lead product candidate consists ELX-02, is an optimized aminoglycoside designed to restore full-length functional proteins. It operates primarily in Waltham, MA and Rehovot, Israel. Eloxx Pharmaceuticals Inc., formerly known as Sevion Therapeutics Inc., is based in WALTHAM, United States. “

Several other research firms have also recently issued reports on ELOX. Canaccord Genuity reaffirmed a “buy” rating and issued a $17.00 price objective (down from $20.00) on shares of Eloxx Pharmaceuticals in a research report on Wednesday, May 15th. They noted that the move was a valuation call. SunTrust Banks lowered their price objective on Eloxx Pharmaceuticals to $10.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th.

ELOX stock traded down $0.40 during midday trading on Tuesday, hitting $6.28. The company’s stock had a trading volume of 65,800 shares, compared to its average volume of 54,645. Eloxx Pharmaceuticals has a 12 month low of $5.14 and a 12 month high of $18.50. The firm’s 50-day moving average is $7.53 and its 200-day moving average is $10.24.

Eloxx Pharmaceuticals (OTCMKTS:ELOX) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.03).

In related news, major shareholder Pontifax Management 4 G.P. (20 bought 200,000 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was acquired at an average cost of $9.00 per share, for a total transaction of $1,800,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 44.03% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Menora Mivtachim Holdings LTD. raised its stake in Eloxx Pharmaceuticals by 17.0% during the 2nd quarter. Menora Mivtachim Holdings LTD. now owns 2,202,456 shares of the company’s stock valued at $21,958,000 after buying an additional 320,000 shares during the last quarter. BlackRock Inc. raised its stake in Eloxx Pharmaceuticals by 9.4% during the 2nd quarter. BlackRock Inc. now owns 1,629,025 shares of the company’s stock valued at $16,241,000 after buying an additional 140,112 shares during the last quarter. Altshuler Shaham Ltd raised its stake in Eloxx Pharmaceuticals by 28.6% during the 2nd quarter. Altshuler Shaham Ltd now owns 1,093,859 shares of the company’s stock valued at $11,343,000 after buying an additional 242,962 shares during the last quarter. Vanguard Group Inc. raised its stake in Eloxx Pharmaceuticals by 8.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,093,754 shares of the company’s stock valued at $10,905,000 after buying an additional 86,124 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new stake in Eloxx Pharmaceuticals during the 2nd quarter valued at $5,932,000.

Eloxx Pharmaceuticals Company Profile

Eloxx Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel therapeutics for the treatment of rare and ultra-rare premature stop codon diseases. Its lead program is ELX-02, which is in Phase I clinical trial, which focuses on the treatment of cystic fibrosis and cystinosis patients with diagnosed nonsense mutations.

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