Eloxx Pharmaceuticals (OTCMKTS:ELOX) Lifted to Buy at Zacks Investment Research
Eloxx Pharmaceuticals (OTCMKTS:ELOX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday, Zacks.com reports. The brokerage currently has a $5.25 price objective on the stock. Zacks Investment Research‘s target price indicates a potential upside of 17.19% from the company’s previous close.
According to Zacks, “Eloxx Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. It engaged in developing novel small molecule medicines to treat many rare and ultra-rare genetic diseases caused by nonsense mutations. The company’s lead product candidate consists ELX-02, is an optimized aminoglycoside designed to restore full-length functional proteins. It operates primarily in Waltham, MA and Rehovot, Israel. Eloxx Pharmaceuticals Inc., formerly known as Sevion Therapeutics Inc., is based in WALTHAM, United States. “
Several other analysts also recently issued reports on the company. SunTrust Banks reduced their price objective on Eloxx Pharmaceuticals to $10.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Janney Montgomery Scott began coverage on Eloxx Pharmaceuticals in a research report on Friday, September 6th. They issued a “buy” rating and a $14.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $11.25.
Eloxx Pharmaceuticals (OTCMKTS:ELOX) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.39) by $0.07.
Institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. increased its stake in Eloxx Pharmaceuticals by 458.0% in the second quarter. Advisor Group Inc. now owns 12,359 shares of the company’s stock valued at $123,000 after purchasing an additional 10,144 shares during the last quarter. Morgan Stanley increased its stake in Eloxx Pharmaceuticals by 1,816.9% in the second quarter. Morgan Stanley now owns 65,097 shares of the company’s stock valued at $649,000 after purchasing an additional 61,701 shares during the last quarter. CVI Holdings LLC acquired a new position in Eloxx Pharmaceuticals in the second quarter valued at $742,000. Charles Schwab Investment Management Inc. increased its stake in Eloxx Pharmaceuticals by 12.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 129,169 shares of the company’s stock valued at $1,288,000 after purchasing an additional 14,118 shares during the last quarter. Finally, Ion Asset Management Ltd. acquired a new position in Eloxx Pharmaceuticals in the second quarter valued at $2,243,000.
About Eloxx Pharmaceuticals
Eloxx Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel therapeutics for the treatment of rare and ultra-rare premature stop codon diseases. Its lead program is ELX-02, which is in Phase I clinical trial, which focuses on the treatment of cystic fibrosis and cystinosis patients with diagnosed nonsense mutations.
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