Zacks Investment Research downgraded shares of PLx Pharma Inc (NASDAQ:PLXP) from a buy rating to a sell rating in a research note issued to investors on Tuesday morning.

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. “

Several other equities research analysts have also weighed in on PLXP. UBS AG upgraded shares of PLx Pharma from a market perform rating to an outperform rating and set a $12.00 target price on the stock in a report on Monday, July 31st. Redburn Partners upgraded shares of PLx Pharma to an outperform rating in a report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $9.63.

Shares of PLx Pharma (NASDAQ:PLXP) traded down 1.3577% during mid-day trading on Tuesday, reaching $6.3501. 2,273 shares of the company’s stock traded hands. PLx Pharma has a 52 week low of $5.60 and a 52 week high of $126.72. The company’s 50 day moving average is $6.53 and its 200-day moving average is $7.55. The firm’s market cap is $55.17 million.

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A number of institutional investors and hedge funds have recently bought and sold shares of the business. Susquehanna International Group LLP acquired a new stake in PLx Pharma in the second quarter worth $1,413,000. University of Texas Investment Managment Co. acquired a new stake in PLx Pharma in the second quarter worth $385,000. Finally, Heritage Way Advisors LLC acquired a new stake in PLx Pharma in the second quarter worth $197,000. Institutional investors own 19.68% of the company’s stock.

About PLx Pharma

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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