Zacks Investment Research upgraded shares of Aerpio Pharmaceuticals (OTCMKTS:ARPO) from a hold rating to a buy rating in a report issued on Wednesday, Zacks.com reports. The brokerage currently has $0.75 price target on the stock.
According to Zacks, “Aerpio Pharmaceuticals Inc. is a biopharmaceutical company. It focuses on the development of novel therapeutics for vascular disorders with a concentration on diseases of the eye. The Company’ product candidates include AKB?9778, ARP1536 and AKB-4924 which are in clinical stage. Aerpio Pharmaceuticals Inc. is based in Cincinnati, United States. “
Separately, HC Wainwright reissued a hold rating and issued a $1.00 price objective on shares of Aerpio Pharmaceuticals in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $3.25.
Aerpio Pharmaceuticals (OTCMKTS:ARPO) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.04.
A number of large investors have recently modified their holdings of ARPO. Jane Street Group LLC lifted its stake in Aerpio Pharmaceuticals by 200.1% in the 2nd quarter. Jane Street Group LLC now owns 44,693 shares of the company’s stock valued at $41,000 after purchasing an additional 29,800 shares during the last quarter. US Bancorp DE bought a new position in Aerpio Pharmaceuticals in the 2nd quarter valued at approximately $46,000. Panagora Asset Management Inc. lifted its stake in Aerpio Pharmaceuticals by 390.2% in the 2nd quarter. Panagora Asset Management Inc. now owns 64,074 shares of the company’s stock valued at $58,000 after purchasing an additional 51,003 shares during the last quarter. BlackRock Inc. lifted its stake in Aerpio Pharmaceuticals by 78.8% in the 2nd quarter. BlackRock Inc. now owns 165,222 shares of the company’s stock valued at $150,000 after purchasing an additional 72,796 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Aerpio Pharmaceuticals by 23.2% in the 2nd quarter. Acadian Asset Management LLC now owns 186,550 shares of the company’s stock valued at $170,000 after purchasing an additional 35,121 shares during the last quarter. 0.37% of the stock is owned by institutional investors and hedge funds.
Aerpio Pharmaceuticals Company Profile
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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