Dipexium Pharmaceuticals, Inc. (PLXP) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Dipexium Pharmaceuticals, Inc. (NASDAQ:PLXP) from a hold rating to a buy rating in a research note published on Saturday. Zacks Investment Research currently has $7.25 price target on the biotechnology company’s stock.

According to Zacks, “PLx Pharma Inc. is a specialty pharmaceutical company. It focused on developing clinically validated and patent-protected PLxGuard(TM) delivery system to provide safe and effective aspirin products. PLx Pharma Inc., formerly known as Dipexium Pharmaceuticals Inc., is based in NEW YORK, United States. “

PLXP has been the topic of a number of other reports. UBS AG raised shares of Dipexium Pharmaceuticals from a market perform rating to an outperform rating and set a $12.00 price target for the company in a research report on Monday, July 31st. Redburn Partners raised shares of Dipexium Pharmaceuticals to an outperform rating in a research report on Tuesday, August 1st. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $9.63.

Shares of Dipexium Pharmaceuticals (NASDAQ PLXP) opened at 6.60 on Friday. The firm’s market capitalization is $57.34 million. Dipexium Pharmaceuticals has a 52-week low of $5.60 and a 52-week high of $142.01. The stock has a 50 day moving average of $6.53 and a 200-day moving average of $7.55.

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A number of institutional investors and hedge funds have recently made changes to their positions in the business. Heritage Way Advisors LLC acquired a new position in shares of Dipexium Pharmaceuticals during the 2nd quarter valued at about $197,000. University of Texas Investment Managment Co. acquired a new position in shares of Dipexium Pharmaceuticals during the 2nd quarter valued at about $385,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Dipexium Pharmaceuticals during the 2nd quarter valued at about $1,413,000. 19.68% of the stock is currently owned by institutional investors.

Dipexium Pharmaceuticals Company Profile

PLx Pharma Inc, formerly Dipexium Pharmaceuticals, Inc, is a biopharmaceutical company. The Company is a late stage specialty pharmaceutical company focusing on commercializing its lead products: Aspertec 325 mg and Aspertec 81 mg (Aspertec). The Company’s products and technology includes PLxGuard delivery system, Aspertec 325 mg, PL1100/PL1200 Ibuprofen.

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