Salarius Pharmaceuticals (NASDAQ:SLRX) Upgraded by Zacks Investment Research to “Buy”

Salarius Pharmaceuticals (NASDAQ:SLRX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, reports. The firm presently has a $1.25 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 2.46% from the company’s current price.

According to Zacks, “Salarius Pharmaceuticals Inc. is a clinical-stage oncology company. It develops therapies for the treatment of cancers. The company’s lead candidate is Seclidemstat, which is in clinical development for the treatment of Ewing sarcoma, as well as advanced solid tumors, including prostate, breast, and ovarian cancers. Salarius Pharmaceuticals Inc., formerly known as Flex Pharma Inc., is based in Houston, Texas. “

Shares of Salarius Pharmaceuticals stock opened at $1.22 on Thursday. Salarius Pharmaceuticals has a one year low of $0.62 and a one year high of $3.50. The company has a market cap of $54.58 million, a PE ratio of -0.58 and a beta of 2.01. The business has a 50-day simple moving average of $1.41 and a 200-day simple moving average of $1.21.

Salarius Pharmaceuticals (NASDAQ:SLRX) last announced its quarterly earnings results on Wednesday, March 17th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.01. Salarius Pharmaceuticals had a negative return on equity of 45.22% and a negative net margin of 155.82%. On average, analysts forecast that Salarius Pharmaceuticals will post -0.54 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. Worth Venture Partners LLC raised its position in Salarius Pharmaceuticals by 39.6% in the fourth quarter. Worth Venture Partners LLC now owns 360,556 shares of the company’s stock worth $328,000 after acquiring an additional 102,307 shares in the last quarter. Squarepoint Ops LLC boosted its stake in Salarius Pharmaceuticals by 765.5% in the 4th quarter. Squarepoint Ops LLC now owns 101,682 shares of the company’s stock worth $93,000 after buying an additional 89,934 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in Salarius Pharmaceuticals in the 4th quarter worth about $30,000. Institutional investors and hedge funds own 3.77% of the company’s stock.

Salarius Pharmaceuticals Company Profile

Salarius Pharmaceuticals, Inc is a clinical-stage oncology company. The firm focuses on the development of Salarius’ clinical pipeline, which targets rare, orphan cancers and cancers with a high unmet need. The company was founded in 2014 and is headquartered in Houston, TX.

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