Zacks Investment Research upgraded shares of Aerpio Pharmaceuticals (OTCMKTS:ARPO) from a sell rating to a buy rating in a research note issued to investors on Wednesday, Zacks.com reports. Zacks Investment Research currently has $1.00 price target on the stock.

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. “

ARPO has been the topic of a number of other research reports. HC Wainwright reaffirmed a neutral rating on shares of Aerpio Pharmaceuticals in a research report on Wednesday, June 12th. National Securities downgraded shares of Aerpio Pharmaceuticals from a buy rating to a neutral rating in a research report on Monday, March 18th. Finally, Guggenheim downgraded shares of Aerpio Pharmaceuticals from a buy rating to a neutral rating in a research report on Monday, March 18th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Aerpio Pharmaceuticals has a consensus rating of Buy and a consensus price target of $6.00.

ARPO traded up $0.01 during trading on Wednesday, hitting $0.81. 39,000 shares of the company traded hands, compared to its average volume of 359,071. The stock has a 50-day moving average price of $0.96. Aerpio Pharmaceuticals has a 1 year low of $0.75 and a 1 year high of $4.31.

Aerpio Pharmaceuticals (OTCMKTS:ARPO) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.21) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.01.

In related news, major shareholder Bioventures Ltd Novartis sold 51,057 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $1.02, for a total value of $52,078.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 869,997 shares of company stock valued at $897,929 in the last three months. 38.60% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. HarbourVest Partners LLC acquired a new stake in shares of Aerpio Pharmaceuticals during the fourth quarter worth about $246,000. Acadian Asset Management LLC purchased a new position in shares of Aerpio Pharmaceuticals during the fourth quarter worth approximately $28,000. Alambic Investment Management L.P. acquired a new stake in shares of Aerpio Pharmaceuticals during the first quarter worth $85,000. Bank of New York Mellon Corp acquired a new stake in shares of Aerpio Pharmaceuticals during the fourth quarter worth $36,000. Finally, Jane Street Group LLC lifted its holdings in shares of Aerpio Pharmaceuticals by 216.3% during the fourth quarter. Jane Street Group LLC now owns 81,984 shares of the company’s stock worth $139,000 after purchasing an additional 56,065 shares during the period. 0.37% of the stock is currently owned by institutional investors and hedge funds.

About Aerpio Pharmaceuticals

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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