Zacks Investment Research lowered shares of Rexahn Pharmaceuticals, Inc. (NYSE:RNN) from a buy rating to a hold rating in a research note published on Wednesday.
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. “
Separately, FBR & Co reissued an outperform rating and set a $3.00 price target on shares of Rexahn Pharmaceuticals in a research report on Wednesday, October 5th.
Rexahn Pharmaceuticals (NYSE:RNN) opened at 0.20 on Wednesday. Rexahn Pharmaceuticals has a 1-year low of $0.20 and a 1-year high of $0.52. The firm’s 50-day moving average price is $0.23 and its 200-day moving average price is $0.27. The firm’s market cap is $42.66 million.
Rexahn Pharmaceuticals (NYSE:RNN) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. On average, equities research analysts anticipate that Rexahn Pharmaceuticals will post ($0.07) earnings per share for the current year.
A hedge fund recently raised its stake in Rexahn Pharmaceuticals stock. Vanguard Group Inc. boosted its position in shares of Rexahn Pharmaceuticals, Inc. (NYSE:RNN) by 1.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,904,097 shares of the company’s stock after buying an additional 49,761 shares during the period. Vanguard Group Inc. owned 2.30% of Rexahn Pharmaceuticals worth $1,232,000 as of its most recent SEC filing.
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.