Dipexium Pharmaceuticals, Inc. (PLXP) Upgraded to “Outperform” at UBS AG

UBS AG upgraded shares of Dipexium Pharmaceuticals, Inc. (NASDAQ:PLXP) from a market perform rating to an outperform rating in a report released on Monday, July 31st, The Fly reports. They currently have $12.00 price objective on the biotechnology company’s stock.

Dipexium Pharmaceuticals (PLXP) remained flat at $6.90 during trading on Monday. The stock had a trading volume of 6,656 shares. The stock’s market capitalization is $59.95 million. Dipexium Pharmaceuticals has a 12-month low of $5.60 and a 12-month high of $142.01. The stock’s 50 day moving average is $6.30 and its 200-day moving average is $7.99.

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In other Dipexium Pharmaceuticals news, CFO David Emerson Jorden purchased 32,727 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was bought at an average cost of $6.88 per share, for a total transaction of $225,161.76. Following the completion of the transaction, the chief financial officer now owns 151,913 shares in the company, valued at $1,045,161.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael J. Valentino purchased 29,091 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was acquired at an average price of $6.88 per share, with a total value of $200,146.08. Following the completion of the transaction, the insider now owns 122,386 shares of the company’s stock, valued at approximately $842,015.68. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 69,091 shares of company stock valued at $475,346. 47.70% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in PLXP. Susquehanna International Group LLP acquired a new stake in Dipexium Pharmaceuticals during the second quarter worth $1,413,000. University of Texas Investment Managment Co. acquired a new stake in Dipexium Pharmaceuticals during the second quarter worth $385,000. Finally, Heritage Way Advisors LLC acquired a new stake in Dipexium Pharmaceuticals during the second quarter worth $197,000. Institutional investors own 43.34% of the company’s stock.

Dipexium Pharmaceuticals Company Profile

PLx Pharma Inc, formerly Dipexium Pharmaceuticals, Inc, is a biopharmaceutical company. The Company is a late stage specialty pharmaceutical company focusing on commercializing its lead products: Aspertec 325 mg and Aspertec 81 mg (Aspertec). The Company’s products and technology includes PLxGuard delivery system, Aspertec 325 mg, PL1100/PL1200 Ibuprofen.

The Fly

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