RXi Pharmaceuticals (RXII) Shares Gap Up to $0.44

RXi Pharmaceuticals Corp (NASDAQ:RXII) gapped up prior to trading on Thursday . The stock had previously closed at $0.45, but opened at $0.44. RXi Pharmaceuticals shares last traded at $0.47, with a volume of 269354 shares traded.

A number of brokerages have recently weighed in on RXII. HC Wainwright set a $3.00 price objective on RXi Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, July 16th. ValuEngine upgraded RXi Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd.

The stock has a market capitalization of $1.93 million, a price-to-earnings ratio of -0.10 and a beta of 2.07.

RXi Pharmaceuticals (NASDAQ:RXII) last issued its quarterly earnings data on Tuesday, August 14th. The biotechnology company reported ($0.46) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.62) by $0.16. The business had revenue of $0.06 million during the quarter, compared to the consensus estimate of $0.02 million. Sell-side analysts forecast that RXi Pharmaceuticals Corp will post -1.55 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in RXi Pharmaceuticals stock. SG Americas Securities LLC bought a new stake in RXi Pharmaceuticals Corp (NASDAQ:RXII) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 118,387 shares of the biotechnology company’s stock, valued at approximately $228,000. SG Americas Securities LLC owned 2.78% of RXi Pharmaceuticals as of its most recent SEC filing. Institutional investors own 8.87% of the company’s stock.

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About RXi Pharmaceuticals (NASDAQ:RXII)

RXi Pharmaceuticals Corporation, a biotechnology company, focuses on discovering and developing immuno-oncology therapeutics to treat cancer. The company's lead product candidate is RXI-109, an sd-rxRNA that reduces the expression of connective tissue growth factor, a critical regulator of several biological pathways involved in fibrosis, including scar formation in the skin and eye.

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