Needham & Company LLC Reiterates Buy Rating for Aquinox Pharmaceuticals, Inc. (AQXP)

Aquinox Pharmaceuticals, Inc. (NASDAQ:AQXP)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research note issued on Thursday. They presently have a $25.00 price target on the stock. Needham & Company LLC’s price target points to a potential upside of 129.78% from the stock’s current price.

The analysts wrote, “Aquinox reported 3Q17 financial results this week. Phase 3 LEADERSHIP 301 trial of rosiptor continues to enroll pts and company continues to guide for top-line results in 3Q18. We expect a positive outcome based on Phase 2 data and reiterate BUY.””

AQXP has been the subject of several other research reports. BidaskClub upgraded Aquinox Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Canaccord Genuity set a $22.00 target price on Aquinox Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, August 8th. Zacks Investment Research upgraded Aquinox Pharmaceuticals from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Thursday, August 10th. Cantor Fitzgerald restated a “buy” rating and set a $28.00 target price on shares of Aquinox Pharmaceuticals in a research report on Thursday. Finally, ValuEngine lowered Aquinox Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, September 15th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $22.80.

Shares of Aquinox Pharmaceuticals (AQXP) traded up $0.03 on Thursday, reaching $10.88. The company’s stock had a trading volume of 45,900 shares, compared to its average volume of 86,608. Aquinox Pharmaceuticals has a fifty-two week low of $10.68 and a fifty-two week high of $19.97.

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Several institutional investors and hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC purchased a new stake in shares of Aquinox Pharmaceuticals during the third quarter valued at approximately $194,000. Sphera Funds Management LTD. increased its position in shares of Aquinox Pharmaceuticals by 21.7% during the third quarter. Sphera Funds Management LTD. now owns 75,535 shares of the company’s stock valued at $1,072,000 after acquiring an additional 13,450 shares during the last quarter. Nexthera Capital LP purchased a new stake in shares of Aquinox Pharmaceuticals during the second quarter valued at approximately $1,276,000. Vanguard Group Inc. increased its position in shares of Aquinox Pharmaceuticals by 6.6% during the second quarter. Vanguard Group Inc. now owns 282,483 shares of the company’s stock valued at $3,974,000 after acquiring an additional 17,455 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Aquinox Pharmaceuticals by 3.3% during the second quarter. Northern Trust Corp now owns 83,207 shares of the company’s stock valued at $1,171,000 after acquiring an additional 2,691 shares during the last quarter. 95.15% of the stock is owned by institutional investors.

About Aquinox Pharmaceuticals

Aquinox Pharmaceuticals, Inc is a clinical-stage pharmaceutical company discovering and developing targeted therapeutics in disease areas of inflammation and immuno-oncology. The Company’s primary focus is anti-inflammatory product candidates targeting the Src Homology 2 (SH2)-containing inositol-5-phosphatase 1 (SHIP1) enzyme, which is a regulator of a cellular signaling pathway in immune cells, known as the phosphatidylinositol-4,5-bisphosphate 3-kinase (PI3K) pathway.

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