Aerpio Pharmaceuticals (OTCMKTS:ARPO) Raised to “Hold” at Zacks Investment Research
According to Zacks, “Aerpio Pharmaceuticals Inc. is a biopharmaceutical company. It focuses on the development of novel therapeutics for vascular disorders with a concentration on diseases of the eye. The Company’ product candidates include AKB?9778, ARP1536 and AKB-4924 which are in clinical stage. Aerpio Pharmaceuticals Inc. is based in Cincinnati, United States. “
Other equities analysts also recently issued reports about the company. HC Wainwright began coverage on Aerpio Pharmaceuticals in a research note on Wednesday. They issued a neutral rating and a $1.00 price target on the stock. Guggenheim downgraded Aerpio Pharmaceuticals from a buy rating to a neutral rating in a research note on Monday, March 18th. National Securities downgraded Aerpio Pharmaceuticals from a buy rating to a neutral rating in a research note on Monday, March 18th. Finally, Cantor Fitzgerald set a $8.00 price target on Aerpio Pharmaceuticals and gave the stock a buy rating in a research note on Tuesday, March 5th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Aerpio Pharmaceuticals currently has an average rating of Hold and a consensus target price of $6.05.
Aerpio Pharmaceuticals (OTCMKTS:ARPO) last posted its earnings results on Thursday, May 9th. The company reported ($0.21) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.01.
In other news, major shareholder Bioventures Ltd Novartis sold 701,800 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $1.03, for a total value of $722,854.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 1,750,446 shares of company stock worth $1,774,045. Company insiders own 38.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new position in Aerpio Pharmaceuticals during the fourth quarter valued at $28,000. Bank of New York Mellon Corp purchased a new position in Aerpio Pharmaceuticals during the fourth quarter valued at $36,000. Raymond James & Associates lifted its position in Aerpio Pharmaceuticals by 158.3% during the first quarter. Raymond James & Associates now owns 31,000 shares of the company’s stock valued at $28,000 after purchasing an additional 19,000 shares in the last quarter. Northern Trust Corp purchased a new position in Aerpio Pharmaceuticals during the first quarter valued at $48,000. Finally, Jane Street Group LLC lifted its position in Aerpio Pharmaceuticals by 216.3% during the fourth quarter. Jane Street Group LLC now owns 81,984 shares of the company’s stock valued at $139,000 after purchasing an additional 56,065 shares in the last quarter. Institutional investors own 0.37% of the company’s stock.
Aerpio Pharmaceuticals Company Profile
Aerpio Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes proprietary therapeutics for treating ocular diseases. The company's lead product candidate is AKB-9778, a small molecule activator of the tie-2 pathway, which completed Phase 2a clinical trials for the treatment of diabetic macular edema.
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