Bio-Path Holdings Inc (NASDAQ:BPTH) Given Consensus Rating of “Strong Buy” by Analysts

Shares of Bio-Path Holdings Inc (NASDAQ:BPTH) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.

Analysts have set a 1-year consensus target price of $28.00 for the company and are anticipating that the company will post ($0.74) earnings per share for the current quarter, according to Zacks. Zacks has also given Bio-Path an industry rank of 48 out of 255 based on the ratings given to related companies.

A number of research firms have recently commented on BPTH. ValuEngine upgraded Bio-Path from a “hold” rating to a “buy” rating in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $28.00 price objective on shares of Bio-Path in a report on Friday, August 16th.

NASDAQ:BPTH traded up $0.01 during mid-day trading on Friday, hitting $9.05. 33,555 shares of the company traded hands, compared to its average volume of 1,441,583. The stock’s fifty day moving average price is $11.28 and its 200-day moving average price is $14.64. Bio-Path has a one year low of $1.61 and a one year high of $73.52. The company has a quick ratio of 18.01, a current ratio of 18.01 and a debt-to-equity ratio of 0.02. The firm has a market cap of $26.10 million, a price-to-earnings ratio of -0.63 and a beta of 3.22.

Bio-Path (NASDAQ:BPTH) last issued its quarterly earnings data on Thursday, August 15th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.27). Equities analysts predict that Bio-Path will post -3.2 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in BPTH. Morgan Stanley raised its position in shares of Bio-Path by 19,858.0% during the 2nd quarter. Morgan Stanley now owns 19,958 shares of the company’s stock valued at $267,000 after buying an additional 19,858 shares during the period. Gainplan LLC purchased a new stake in shares of Bio-Path during the 1st quarter valued at approximately $204,000. BlackRock Inc. raised its position in shares of Bio-Path by 17.5% during the 2nd quarter. BlackRock Inc. now owns 46,879 shares of the company’s stock valued at $628,000 after buying an additional 6,978 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Bio-Path by 10.3% during the 2nd quarter. Vanguard Group Inc. now owns 27,925 shares of the company’s stock valued at $374,000 after buying an additional 2,601 shares during the period. 9.48% of the stock is currently owned by hedge funds and other institutional investors.

About Bio-Path

Bio-Path Holdings, Inc operates as a clinical and preclinical stage oncology focused RNAi nano particle drug development company in the United States. The company develops products based on DNAbilize, a drug delivery and antisense technology that uses P-ethoxy, which is a deoxyribonucleic acid (DNA) backbone modification intended to protect the DNA from destruction.

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