Zacks Investment Research upgraded shares of Aerpio Pharmaceuticals (OTCMKTS:ARPO) from a sell rating to a buy rating in a research note issued to investors on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $1.00 price target on the stock.
According to Zacks, “Aerpio Pharmaceuticals Inc. is a biopharmaceutical company. It focuses on the development of novel therapeutics for vascular disorders with a concentration on diseases of the eye. The Company’ product candidates include AKB?9778, ARP1536 and AKB-4924 which are in clinical stage. Aerpio Pharmaceuticals Inc. is based in Cincinnati, United States. “
ARPO has been the subject of a number of other research reports. National Securities lowered Aerpio Pharmaceuticals from a buy rating to a neutral rating in a research report on Monday, March 18th. Guggenheim downgraded Aerpio Pharmaceuticals from a buy rating to a neutral rating in a report on Monday, March 18th. Finally, HC Wainwright reiterated a neutral rating on shares of Aerpio Pharmaceuticals in a report on Wednesday, June 12th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $6.00.
Aerpio Pharmaceuticals (OTCMKTS:ARPO) last released its earnings results on Thursday, May 9th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01.
In other Aerpio Pharmaceuticals news, major shareholder Bioventures Ltd Novartis sold 117,140 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $1.05, for a total transaction of $122,997.00. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 869,997 shares of company stock worth $897,929 in the last quarter. Company insiders own 38.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. HarbourVest Partners LLC bought a new position in Aerpio Pharmaceuticals in the 4th quarter worth $246,000. Acadian Asset Management LLC purchased a new stake in Aerpio Pharmaceuticals in the 4th quarter worth $28,000. Alambic Investment Management L.P. purchased a new stake in Aerpio Pharmaceuticals in the 1st quarter worth $85,000. Bank of New York Mellon Corp purchased a new stake in Aerpio Pharmaceuticals in the 4th quarter worth $36,000. Finally, Jane Street Group LLC increased its stake in Aerpio Pharmaceuticals by 216.3% in the 4th quarter. Jane Street Group LLC now owns 81,984 shares of the company’s stock worth $139,000 after buying an additional 56,065 shares in the last quarter. 0.37% of the stock is currently owned by institutional investors.
About Aerpio Pharmaceuticals
Aerpio Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes proprietary therapeutics for treating ocular diseases. The company's lead product candidate is AKB-9778, a small molecule activator of the tie-2 pathway, which completed Phase 2a clinical trials for the treatment of diabetic macular edema.
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