Eloxx Pharmaceuticals (OTCMKTS:ELOX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday, Zacks.com reports. The brokerage presently has a $13.00 price objective on the stock. Zacks Investment Research‘s price target indicates a potential upside of 21.84% from the stock’s current price.
According to Zacks, “Eloxx Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. It engaged in developing novel small molecule medicines to treat many rare and ultra-rare genetic diseases caused by nonsense mutations. The company’s lead product candidate consists ELX-02, is an optimized aminoglycoside designed to restore full-length functional proteins. It operates primarily in Waltham, MA and Rehovot, Israel. Eloxx Pharmaceuticals Inc., formerly known as Sevion Therapeutics Inc., is based in WALTHAM, United States. “
Shares of ELOX stock traded down $0.83 during mid-day trading on Monday, hitting $10.67. The stock had a trading volume of 30,100 shares, compared to its average volume of 30,570. Eloxx Pharmaceuticals has a fifty-two week low of $9.12 and a fifty-two week high of $24.60.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Citigroup Inc. lifted its stake in shares of Eloxx Pharmaceuticals by 20.6% in the fourth quarter. Citigroup Inc. now owns 7,432 shares of the company’s stock valued at $89,000 after purchasing an additional 1,269 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Eloxx Pharmaceuticals by 6.0% in the fourth quarter. Bank of New York Mellon Corp now owns 67,111 shares of the company’s stock valued at $806,000 after purchasing an additional 3,800 shares during the period. BNP Paribas Arbitrage SA acquired a new stake in shares of Eloxx Pharmaceuticals in the first quarter valued at about $55,000. Northern Trust Corp lifted its stake in shares of Eloxx Pharmaceuticals by 2.0% in the first quarter. Northern Trust Corp now owns 287,081 shares of the company’s stock valued at $3,353,000 after purchasing an additional 5,547 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in shares of Eloxx Pharmaceuticals by 16.1% in the first quarter. Wells Fargo & Company MN now owns 42,302 shares of the company’s stock valued at $494,000 after purchasing an additional 5,868 shares during the period.
About Eloxx Pharmaceuticals
Eloxx Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel therapeutics for the treatment of rare and ultra-rare premature stop codon diseases. Its lead program is ELX-02, which is in Phase I clinical trial, which focuses on the treatment of cystic fibrosis and cystinosis patients with diagnosed nonsense mutations.
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