The Zacks Investment Research Downgrades Rexahn Pharmaceuticals, Inc. (RNN) to Hold

The Zacks Investment Research Downgrades Rexahn Pharmaceuticals, Inc. (RNN) to Hold

Rexahn Pharmaceuticals, Inc. (NYSEMKT:RNN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.

According to Zacks, “REXAHN PHARMACTICALS is a biopharmaceutical company leveraging its proprietary technology platform to discover, develop and commercialize innovative treatments for cancer, central nervous system disorders, sexual dysfunction and other unmet medical needs. Rexahn’s compounds are designed to uniquely treat various disease states while significantly minimizing side effects in order to allow patients to regain quality of life through therapy. “

Other equities analysts have also recently issued research reports about the stock. Ifs Securities reaffirmed an “outperform” rating on shares of Rexahn Pharmaceuticals in a research note on Monday, August 7th. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Rexahn Pharmaceuticals in a report on Monday, August 14th. Finally, Seaport Global Securities restated a “buy” rating and set a $13.00 price target on shares of Rexahn Pharmaceuticals in a report on Friday, October 6th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Rexahn Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $13.85.

Rexahn Pharmaceuticals (NYSEMKT:RNN) opened at 2.17 on Friday. The firm’s market capitalization is $61.76 million. The stock’s 50 day moving average is $2.49 and its 200-day moving average is $2.32. Rexahn Pharmaceuticals has a 52 week low of $0.13 and a 52 week high of $4.74.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC grew its holdings in shares of Rexahn Pharmaceuticals by 17.6% in the 1st quarter. Renaissance Technologies LLC now owns 5,758,391 shares of the company’s stock worth $2,937,000 after purchasing an additional 862,000 shares during the last quarter. Susquehanna International Group LLP bought a new stake in shares of Rexahn Pharmaceuticals in the 2nd quarter worth about $2,905,000. Finally, Sabby Management LLC bought a new stake in shares of Rexahn Pharmaceuticals in the 2nd quarter worth about $706,000.

Rexahn Pharmaceuticals Company Profile

Rexahn Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company engaged in the discovery, development and commercialization of treatments for cancer. The Company’s clinical-stage drug candidates in active development include Archexin, RX-3117 and Supinoxin (RX-5902). Archexin is a potent inhibitor of the protein kinase Akt-1, which focuses on cancer cell proliferation, survival, angiogenesis, metastasis and drug resistance.

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