Aquinox Pharmaceuticals, Inc. (NASDAQ:AQXP) Upgraded at Zacks Investment Research

Aquinox Pharmaceuticals, Inc. (NASDAQ:AQXP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $15.00 price target on the stock. Zacks Investment Research‘s target price suggests a potential upside of 13.90% from the stock’s previous close.

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. “

A number of other equities analysts also recently commented on AQXP. Cantor Fitzgerald set a $28.00 target price on Aquinox Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, May 9th. ValuEngine upgraded Aquinox Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub downgraded Aquinox Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Canaccord Genuity set a $22.00 target price on Aquinox Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $22.25.

Shares of Aquinox Pharmaceuticals (AQXP) opened at 13.17 on Thursday. The stock’s 50 day moving average is $14.49 and its 200 day moving average is $15.46. Aquinox Pharmaceuticals has a 12 month low of $8.76 and a 12 month high of $19.97. The firm’s market cap is $308.48 million.

Aquinox Pharmaceuticals (NASDAQ:AQXP) last announced its earnings results on Tuesday, August 8th. The company reported ($0.59) EPS for the quarter, meeting analysts’ consensus estimates of ($0.59). Equities research analysts expect that Aquinox Pharmaceuticals will post ($2.15) EPS for the current year.

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In other Aquinox Pharmaceuticals news, insider David Main sold 15,625 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $13.26, for a total value of $207,187.50. Following the completion of the transaction, the insider now owns 77,530 shares in the company, valued at $1,028,047.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.70% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Aquinox Pharmaceuticals by 6.6% in the second quarter. Vanguard Group Inc. now owns 282,483 shares of the company’s stock worth $3,974,000 after buying an additional 17,455 shares during the period. Geode Capital Management LLC increased its position in Aquinox Pharmaceuticals by 10.0% in the first quarter. Geode Capital Management LLC now owns 121,532 shares of the company’s stock worth $2,028,000 after buying an additional 11,035 shares during the period. Northern Trust Corp increased its position in Aquinox Pharmaceuticals by 3.3% in the second quarter. Northern Trust Corp now owns 83,207 shares of the company’s stock worth $1,171,000 after buying an additional 2,691 shares during the period. Sphera Funds Management LTD. purchased a new position in Aquinox Pharmaceuticals during the second quarter worth about $874,000. Finally, Bank of New York Mellon Corp increased its position in Aquinox Pharmaceuticals by 16.5% in the second quarter. Bank of New York Mellon Corp now owns 23,260 shares of the company’s stock worth $327,000 after buying an additional 3,299 shares during the period. Institutional investors and hedge funds own 98.32% of the company’s stock.

About Aquinox Pharmaceuticals

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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