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. The firm 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. “
Several other analysts also recently weighed in on the stock. HC Wainwright reaffirmed a neutral rating on shares of Aerpio Pharmaceuticals in a report on Wednesday, June 12th. National Securities cut shares of Aerpio Pharmaceuticals from a buy rating to a neutral rating in a research note on Monday, March 18th. Finally, Guggenheim cut shares of Aerpio Pharmaceuticals from a buy rating to a neutral rating in a research note on Monday, March 18th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $6.00.
Shares of ARPO opened at $0.82 on Wednesday. Aerpio Pharmaceuticals has a twelve month low of $0.75 and a twelve month high of $4.31. The firm has a fifty day moving average price of $0.96.
Aerpio Pharmaceuticals (OTCMKTS:ARPO) last posted its earnings results on Thursday, May 9th. The company reported ($0.21) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.01.
In related news, major shareholder Bioventures Ltd Novartis sold 51,057 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $1.02, for a total value of $52,078.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 869,997 shares of company stock valued at $897,929. Company insiders own 38.60% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARPO. Acadian Asset Management LLC purchased a new stake in Aerpio Pharmaceuticals during the fourth quarter worth approximately $28,000. Bank of New York Mellon Corp acquired a new position in shares of Aerpio Pharmaceuticals during the fourth quarter worth $36,000. Citigroup Inc. acquired a new position in shares of Aerpio Pharmaceuticals during the fourth quarter worth $411,000. HarbourVest Partners LLC acquired a new position in shares of Aerpio Pharmaceuticals during the fourth quarter worth $246,000. Finally, Jane Street Group LLC raised its holdings in Aerpio Pharmaceuticals by 216.3% in the fourth quarter. Jane Street Group LLC now owns 81,984 shares of the company’s stock valued at $139,000 after acquiring an additional 56,065 shares in the last quarter. Institutional investors own 0.37% of the company’s stock.
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.
Featured Story: What are the benefits of a portfolio tracker?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Aerpio Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aerpio Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.