Biopharmx (BPMX) Earns “Buy” Rating from Maxim Group
Maxim Group restated their buy rating on shares of Biopharmx (NYSEAMERICAN:BPMX) in a report issued on Friday morning. The firm currently has a $1.50 price objective on the biotechnology company’s stock.
“BPMX reported mixed F3Q18 (Oct) results. Revenue of $18,000, down 45.5% y/y, was above our estimate of $9,100, but below consensus of $20,000. GAAP EPS of ($0.05), compared to ($0.12) in F3Q17, was narrower than our estimate of ($0.06) and inline with consensus of ($0.05). The company also received positive feedback from the FDA on the design of its planned phase 3 clinical trial of BPX-01 for acne. As of October 31, 2017, cash and cash equivalents were $1.6M. On November 24, 2017, BPMX completed an $11M public offering that is expected to fund a phase 2 rosacea trial.”,” Maxim Group’s analyst wrote.
Separately, HC Wainwright reaffirmed a buy rating and set a $3.00 price target on shares of Biopharmx in a research report on Tuesday, September 19th.
Biopharmx (NYSEAMERICAN:BPMX) last issued its quarterly earnings data on Wednesday, September 13th. The biotechnology company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). The firm had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.02 million. Biopharmx had a negative return on equity of 5,749.08% and a negative net margin of 22,005.88%.
In related news, Director Stephen Morlock purchased 330,000 shares of the business’s stock in a transaction dated Friday, November 24th. The stock was purchased at an average cost of $0.15 per share, with a total value of $49,500.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Vivo Capital Viii, Llc sold 296,394 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $0.20, for a total value of $59,278.80. The disclosure for this sale can be found here.
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BioPharmX Corporation is a specialty pharmaceutical company. The Company is focused on utilizing its drug delivery technologies to develop and commercialize prescription and over-the-counter (OTC) products that address markets in women’s health and dermatology. Its portfolio of product candidates includes two clinical stage product candidates: BPX01, which is a topical antibiotic for the treatment of acne based on a formulation of minocycline, and BPX03, which is a molecular iodine (I2) tablet for the treatment of benign breast pain associated with fibrocystic breast condition (FBC) and cyclic mastalgia.
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