Zacks Investment Research Downgrades Bellerophon Therapeutics (BLPH) to Hold

Zacks Investment Research downgraded shares of Bellerophon Therapeutics (NASDAQ:BLPH) from a buy rating to a hold rating in a research note released on Tuesday morning.

According to Zacks, “Bellerophon Therapeutics LLC is a biotherapeutics company. It is focused on developing products for the treatment of cardiopulmonary and cardiac diseases. The company’s product pipeline consists of INOpulse and BCM which are in different clinical stage. Bellerophon Therapeutics LLC is based in Hampton, New Jersey. “

Separately, HC Wainwright reiterated a buy rating and set a $3.00 price target on shares of Bellerophon Therapeutics in a report on Thursday, August 9th.

Shares of NASDAQ BLPH traded up $0.05 during mid-day trading on Tuesday, reaching $1.09. 176,528 shares of the company’s stock were exchanged, compared to its average volume of 488,402. The stock has a market cap of $62.42 million, a PE ratio of -1.21 and a beta of -0.89. Bellerophon Therapeutics has a 52-week low of $0.47 and a 52-week high of $3.30.

Bellerophon Therapeutics (NASDAQ:BLPH) last released its quarterly earnings results on Wednesday, August 1st. The biotechnology company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.10). Analysts expect that Bellerophon Therapeutics will post -0.4 EPS for the current fiscal year.

In other news, major shareholder Associates Iv L. P. Venrock bought 75,000 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were purchased at an average price of $1.23 per share, with a total value of $92,250.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Associates Iv L. P. Venrock bought 529,370 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The shares were purchased at an average cost of $0.65 per share, for a total transaction of $344,090.50. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 1,699,370 shares of company stock worth $1,672,941. 57.80% of the stock is owned by corporate insiders.

A hedge fund recently raised its stake in Bellerophon Therapeutics stock. Renaissance Technologies LLC raised its stake in Bellerophon Therapeutics Inc (NASDAQ:BLPH) by 12.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,159,200 shares of the biotechnology company’s stock after purchasing an additional 126,300 shares during the period. Renaissance Technologies LLC owned about 2.01% of Bellerophon Therapeutics worth $2,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 58.49% of the stock is owned by hedge funds and other institutional investors.

About Bellerophon Therapeutics

Bellerophon Therapeutics, Inc, a clinical-stage therapeutics company, focuses on the development of products at the intersection of drugs and devices for the treatment of cardiopulmonary diseases. The company offers INOpulse, a pulsatile nitric oxide delivery device, which is in Phase III clinical trials for the treatment of pulmonary arterial hypertension; and has completed Phase II clinical trials to treat pulmonary hypertension associated with chronic obstructive pulmonary diseases and pulmonary hypertension associated with idiopathic pulmonary fibrosis.

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