Alliqua BioMedical, Inc. (NASDAQ:ALQA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage currently has a $0.25 price target on the stock. Zacks Investment Research‘s price objective would suggest a potential downside of 22.77% from the company’s current price.

According to Zacks, “Alliqua, Inc. is a biomedical company. The company focused on the development, manufacturing and distribution of proprietary transdermal wound care and drug delivery technologies. Its technology platform produces hydrogels, a 3-dimensional cross-linked network of water soluble polymers. The company’s product includes SilverSeal(R) a hydrogel wound dressing with silver coated fibers and Hydress(R) an over-the-counter hydrogel wound dressing. It serves the healthcare industry including wound healing, medical diagnostics and cosmeceuticals. Alliqua, Inc. is headquartered in Langhorne, Pennsylvania. “

ALQA has been the topic of several other reports. HC Wainwright set a $2.00 target price on Alliqua BioMedical and gave the company a “buy” rating in a research report on Friday, August 11th. ValuEngine lowered Alliqua BioMedical from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $1.25.

Alliqua BioMedical (ALQA) traded down 1.2666% during midday trading on Tuesday, hitting $0.3196. The company had a trading volume of 390,174 shares. Alliqua BioMedical has a 52 week low of $0.23 and a 52 week high of $0.99. The stock’s market capitalization is $16.01 million. The stock has a 50 day moving average price of $0.32 and a 200-day moving average price of $0.42.

Alliqua BioMedical (NASDAQ:ALQA) last announced its earnings results on Thursday, August 10th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.05. Alliqua BioMedical had a negative return on equity of 107.24% and a negative net margin of 185.30%. The company had revenue of $5.52 million for the quarter, compared to analyst estimates of $5.01 million. During the same period in the prior year, the company posted ($0.22) EPS. The firm’s quarterly revenue was up 23.5% compared to the same quarter last year. On average, equities analysts predict that Alliqua BioMedical will post ($0.43) EPS for the current year.

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Several institutional investors and hedge funds have recently modified their holdings of ALQA. Renaissance Technologies LLC boosted its stake in shares of Alliqua BioMedical by 54.2% in the first quarter. Renaissance Technologies LLC now owns 632,800 shares of the company’s stock worth $319,000 after buying an additional 222,400 shares during the last quarter. KCG Holdings Inc. boosted its stake in shares of Alliqua BioMedical by 777.7% in the first quarter. KCG Holdings Inc. now owns 525,077 shares of the company’s stock worth $265,000 after buying an additional 465,256 shares during the last quarter. Sabby Management LLC boosted its stake in shares of Alliqua BioMedical by 93.7% in the first quarter. Sabby Management LLC now owns 2,131,050 shares of the company’s stock worth $1,076,000 after buying an additional 1,030,652 shares during the last quarter. Finally, Perceptive Advisors LLC boosted its stake in shares of Alliqua BioMedical by 120.3% in the first quarter. Perceptive Advisors LLC now owns 4,233,951 shares of the company’s stock worth $2,136,000 after buying an additional 2,312,000 shares during the last quarter. Hedge funds and other institutional investors own 21.68% of the company’s stock.

Alliqua BioMedical Company Profile

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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