Zacks Investment Research upgraded shares of Rexahn Pharmaceuticals, Inc. (NYSEMKT:RNN) from a hold rating to a buy rating in a research note published on Wednesday, October 4th. Zacks Investment Research currently has $2.75 price objective on the stock.
According to Zacks, “REXAHN PHARMACTICALS is a biopharmaceutical company leveraging its proprietary technology platform to discover, develop and commercialize innovative treatments for cancer, central nervous system disorders, sexual dysfunction and other unmet medical needs. Rexahn’s compounds are designed to uniquely treat various disease states while significantly minimizing side effects in order to allow patients to regain quality of life through therapy. “
A number of other research firms have also recently commented on RNN. Rodman & Renshaw reissued a buy rating and issued a $19.50 price target on shares of Rexahn Pharmaceuticals in a research note on Friday, June 9th. HC Wainwright set a $20.00 price target on shares of Rexahn Pharmaceuticals and gave the stock a buy rating in a research note on Monday, September 11th. Finally, Ifs Securities reissued an outperform rating on shares of Rexahn Pharmaceuticals in a research note on Monday, August 7th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Rexahn Pharmaceuticals presently has an average rating of Buy and an average price target of $13.85.
Shares of Rexahn Pharmaceuticals (NYSEMKT RNN) opened at 2.04 on Wednesday. Rexahn Pharmaceuticals has a 12 month low of $0.13 and a 12 month high of $4.74. The firm’s market capitalization is $58.06 million. The stock has a 50 day moving average price of $2.49 and a 200 day moving average price of $2.33.
A number of hedge funds and other institutional investors have recently modified their holdings of RNN. Sabby Management LLC purchased a new stake in shares of Rexahn Pharmaceuticals in the 2nd quarter worth about $706,000. Susquehanna International Group LLP purchased a new stake in Rexahn Pharmaceuticals during the 2nd quarter valued at about $2,905,000. Finally, Renaissance Technologies LLC grew its position in Rexahn Pharmaceuticals by 17.6% during the 1st quarter. Renaissance Technologies LLC now owns 5,758,391 shares of the company’s stock valued at $2,937,000 after purchasing an additional 862,000 shares during the last quarter.
About Rexahn Pharmaceuticals
Rexahn Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company engaged in the discovery, development and commercialization of treatments for cancer. The Company’s clinical-stage drug candidates in active development include Archexin, RX-3117 and Supinoxin (RX-5902). Archexin is a potent inhibitor of the protein kinase Akt-1, which focuses on cancer cell proliferation, survival, angiogenesis, metastasis and drug resistance.
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