ValuEngine upgraded shares of Alliqua Biomedical (NASDAQ:ALQA) from a hold rating to a buy rating in a research report released on Wednesday morning.

Shares of NASDAQ ALQA traded down $0.07 during midday trading on Wednesday, hitting $1.67. The company’s stock had a trading volume of 644 shares, compared to its average volume of 25,779. Alliqua Biomedical has a 1 year low of $1.55 and a 1 year high of $2.78. The firm has a market cap of $8.51 million, a price-to-earnings ratio of -0.26 and a beta of 1.25.

Alliqua Biomedical (NASDAQ:ALQA) last issued its quarterly earnings results on Friday, August 10th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.64). Alliqua Biomedical had a negative return on equity of 235.69% and a negative net margin of 90.48%. The firm had revenue of $0.86 million during the quarter. As a group, analysts forecast that Alliqua Biomedical will post 5.14 EPS for the current fiscal year.

An institutional investor recently bought a new position in Alliqua Biomedical stock. FNY Investment Advisers LLC purchased a new position in Alliqua Biomedical Inc (NASDAQ:ALQA) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 200,000 shares of the company’s stock, valued at approximately $454,000. FNY Investment Advisers LLC owned about 3.99% of Alliqua Biomedical as of its most recent SEC filing. 21.68% of the stock is currently owned by hedge funds and other institutional investors.

Alliqua Biomedical Company Profile

Alliqua BioMedical, Inc, a regenerative technologies company, commercializes regenerative medical products that assist the body in the repair or replacement of soft tissue. The company markets MIST Ultrasound Healing Therapy, a painless noncontact low-frequency ultrasound to promote healing; and Biovance Amniotic Membrane Allograft and Interfyl Human Connective Tissue Matrix, which are human biologic regenerative technologies.

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