Brokerages Set Alliqua Inc. (NASDAQ:ALQA) Target Price at $2.88
Shares of Alliqua Inc. (NASDAQ:ALQA) have earned a consensus rating of “Buy” from the six brokerages that are currently covering the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $2.88.
A number of analysts recently issued reports on the company. Zacks Investment Research lowered Alliqua from a “buy” rating to a “hold” rating in a report on Friday, August 12th. HC Wainwright lowered their price target on Alliqua from $4.00 to $2.50 and set a “buy” rating for the company in a report on Wednesday, August 10th. Finally, Chardan Capital reiterated a “buy” rating on shares of Alliqua in a report on Sunday, July 10th.
Shares of Alliqua (NASDAQ:ALQA) opened at 0.74 on Tuesday. The firm’s 50-day moving average price is $0.95 and its 200 day moving average price is $1.00. The stock’s market capitalization is $21.96 million. Alliqua has a 52 week low of $0.70 and a 52 week high of $3.88.
Alliqua (NASDAQ:ALQA) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.32. The firm earned $5.50 million during the quarter, compared to analyst estimates of $5.38 million. Alliqua had a negative return on equity of 53.07% and a negative net margin of 73.41%. Analysts expect that Alliqua will post ($0.72) earnings per share for the current year.
Institutional investors have recently modified their holdings of the company. US Bancorp DE increased its position in shares of Alliqua by 29.8% in the second quarter. US Bancorp DE now owns 181,732 shares of the company’s stock worth $204,000 after buying an additional 41,732 shares during the period. Vanguard Group Inc. increased its position in shares of Alliqua by 1.1% in the second quarter. Vanguard Group Inc. now owns 524,296 shares of the company’s stock worth $587,000 after buying an additional 5,780 shares during the last quarter. Suffolk Capital Management LLC increased its position in shares of Alliqua by 18.0% in the second quarter. Suffolk Capital Management LLC now owns 1,206,127 shares of the company’s stock worth $1,351,000 after buying an additional 184,274 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Alliqua by 589.0% in the first quarter. Renaissance Technologies LLC now owns 137,800 shares of the company’s stock worth $113,000 after buying an additional 117,800 shares during the last quarter. 29.89% of the stock is owned by institutional investors.
Alliqua BioMedical, Inc is a provider of advanced wound care solutions. The Company’s businesses include advanced wound care and contract manufacturing. The Company operates through its subsidiaries, such as AquaMed Technologies, Inc and Choice Therapeutics, Inc The Company is engaged in developing a suite of advanced wound care solutions that will enable surgeons, clinicians and wound care practitioners to address the challenges in chronic and acute wounds.
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