Aquinox Pharmaceuticals Inc (AQXP) Receives Average Rating of “Hold” from Analysts

Shares of Aquinox Pharmaceuticals Inc (NASDAQ:AQXP) have received an average recommendation of “Hold” from the six brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $25.00.

Several research firms have commented on AQXP. Canaccord Genuity reaffirmed a “buy” rating and issued a $22.00 target price on shares of Aquinox Pharmaceuticals in a research note on Tuesday, November 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 target price on shares of Aquinox Pharmaceuticals in a research note on Thursday, November 9th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $28.00 target price on shares of Aquinox Pharmaceuticals in a research note on Thursday, November 9th. Zacks Investment Research cut shares of Aquinox Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Finally, ValuEngine cut shares of Aquinox Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, September 15th.

Aquinox Pharmaceuticals (AQXP) traded down $0.02 during mid-day trading on Thursday, reaching $10.63. 34,519 shares of the company’s stock traded hands, compared to its average volume of 85,672. Aquinox Pharmaceuticals has a 12-month low of $10.20 and a 12-month high of $19.97.

Hedge funds have recently added to or reduced their stakes in the business. Investment Centers of America Inc. acquired a new position in shares of Aquinox Pharmaceuticals in the 3rd quarter valued at $175,000. Citadel Advisors LLC acquired a new position in shares of Aquinox Pharmaceuticals in the 3rd quarter valued at $194,000. Archon Partners LLC boosted its holdings in shares of Aquinox Pharmaceuticals by 44.0% in the 2nd quarter. Archon Partners LLC now owns 18,000 shares of the company’s stock valued at $253,000 after purchasing an additional 5,500 shares during the last quarter. Alps Advisors Inc. boosted its holdings in shares of Aquinox Pharmaceuticals by 4.7% in the 2nd quarter. Alps Advisors Inc. now owns 21,090 shares of the company’s stock valued at $297,000 after purchasing an additional 939 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Aquinox Pharmaceuticals by 16.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 23,260 shares of the company’s stock valued at $327,000 after purchasing an additional 3,299 shares during the last quarter. 96.25% of the stock is owned by hedge funds and other institutional investors.

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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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