ValuEngine Upgrades Bio-Path (NASDAQ:BPTH) to “Buy”

Bio-Path (NASDAQ:BPTH) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, ValuEngine reports.

Separately, HC Wainwright reiterated a “buy” rating and set a $28.00 price target on shares of Bio-Path in a research report on Friday, August 16th.

Shares of BPTH stock traded up $0.16 during mid-day trading on Wednesday, hitting $9.21. 34,287 shares of the stock traded hands, compared to its average volume of 1,434,254. Bio-Path has a twelve month low of $1.61 and a twelve month high of $73.52. The firm has a market cap of $26.56 million, a price-to-earnings ratio of -0.64 and a beta of 3.21. The company’s 50-day simple moving average is $11.22 and its 200-day simple moving average is $14.54. The company has a debt-to-equity ratio of 0.02, a quick ratio of 18.01 and a current ratio of 18.01.

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Gainplan LLC acquired a new position in shares of Bio-Path in the 1st quarter worth $204,000. Morgan Stanley grew its holdings in shares of Bio-Path by 19,858.0% in the 2nd quarter. Morgan Stanley now owns 19,958 shares of the company’s stock worth $267,000 after acquiring an additional 19,858 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Bio-Path by 10.3% in the 2nd quarter. Vanguard Group Inc. now owns 27,925 shares of the company’s stock worth $374,000 after acquiring an additional 2,601 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Bio-Path by 17.5% in the 2nd quarter. BlackRock Inc. now owns 46,879 shares of the company’s stock worth $628,000 after acquiring an additional 6,978 shares during the last quarter. Institutional investors and hedge funds own 9.48% of the company’s stock.

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.

Further Reading: How to calculate the intrinsic value of a stock

To view ValuEngine’s full report, visit ValuEngine’s official website.

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