Dipexium Pharmaceuticals, Inc. (NASDAQ:PLXP) Rating Increased to Outperform at Redburn Partners

Dipexium Pharmaceuticals, Inc. (NASDAQ:PLXP) was upgraded by investment analysts at Redburn Partners to an “outperform” rating in a report released on Tuesday, August 1st.

Separately, UBS AG upgraded Dipexium Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research note on Monday, July 31st. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $7.00.

Shares of Dipexium Pharmaceuticals (NASDAQ PLXP) opened at 6.90 on Tuesday. The company has a 50 day moving average price of $6.30 and a 200-day moving average price of $7.99. Dipexium Pharmaceuticals has a 12 month low of $5.60 and a 12 month high of $142.01. The firm’s market capitalization is $59.95 million.

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In other Dipexium Pharmaceuticals news, COO Gary L. Mossman acquired 7,273 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was purchased at an average cost of $6.88 per share, for a total transaction of $50,038.24. Following the completion of the acquisition, the chief operating officer now owns 78,255 shares of the company’s stock, valued at approximately $538,394.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael J. Valentino acquired 29,091 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the insider now directly owns 122,386 shares of the company’s stock, valued at approximately $842,015.68. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 69,091 shares of company stock worth $475,346. 47.70% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of PLXP. Heritage Way Advisors LLC purchased a new position in Dipexium Pharmaceuticals during the second quarter worth $197,000. University of Texas Investment Managment Co. purchased a new position in Dipexium Pharmaceuticals during the second quarter worth $385,000. Finally, Susquehanna International Group LLP purchased a new position in Dipexium Pharmaceuticals during the second quarter worth $1,413,000. Hedge funds and other institutional investors own 43.34% of the company’s stock.

About Dipexium Pharmaceuticals

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.

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