Eloxx Pharmaceuticals (OTCMKTS:ELOX) Rating Lowered to Sell at Zacks Investment Research

Eloxx Pharmaceuticals (OTCMKTS:ELOX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Eloxx Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. It engaged in developing novel small molecule medicines to treat many rare and ultra-rare genetic diseases caused by nonsense mutations. The company’s lead product candidate consists ELX-02, is an optimized aminoglycoside designed to restore full-length functional proteins. It operates primarily in Waltham, MA and Rehovot, Israel. Eloxx Pharmaceuticals Inc., formerly known as Sevion Therapeutics Inc., is based in WALTHAM, United States. “

A number of other equities research analysts have also recently issued reports on the stock. SunTrust Banks dropped their target price on shares of Eloxx Pharmaceuticals to $10.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Janney Montgomery Scott started coverage on shares of Eloxx Pharmaceuticals in a research report on Friday, September 6th. They set a “buy” rating and a $14.00 target price for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $12.80.

Shares of Eloxx Pharmaceuticals stock traded down $0.09 during mid-day trading on Friday, reaching $6.38. 38,913 shares of the stock were exchanged, compared to its average volume of 55,763. The firm has a 50-day simple moving average of $6.68 and a 200 day simple moving average of $9.76. Eloxx Pharmaceuticals has a fifty-two week low of $5.14 and a fifty-two week high of $17.50.

Eloxx Pharmaceuticals (OTCMKTS:ELOX) last announced its earnings results on Wednesday, August 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.03).

In related news, major shareholder Pontifax Management 4 G.P. (20 acquired 200,000 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were purchased at an average price of $9.00 per share, with a total value of $1,800,000.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 44.03% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA bought a new stake in Eloxx Pharmaceuticals during the 1st quarter worth about $55,000. Bank of America Corp DE grew its holdings in Eloxx Pharmaceuticals by 226.0% during the 4th quarter. Bank of America Corp DE now owns 14,209 shares of the company’s stock worth $171,000 after acquiring an additional 9,851 shares during the last quarter. Advisor Group Inc. grew its holdings in Eloxx Pharmaceuticals by 458.0% during the 2nd quarter. Advisor Group Inc. now owns 12,359 shares of the company’s stock worth $123,000 after acquiring an additional 10,144 shares during the last quarter. Northern Trust Corp grew its holdings in Eloxx Pharmaceuticals by 4.6% during the 2nd quarter. Northern Trust Corp now owns 300,197 shares of the company’s stock worth $2,993,000 after acquiring an additional 13,116 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Eloxx Pharmaceuticals by 12.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 129,169 shares of the company’s stock worth $1,288,000 after acquiring an additional 14,118 shares during the last quarter.

About Eloxx Pharmaceuticals

Eloxx Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel therapeutics for the treatment of rare and ultra-rare premature stop codon diseases. Its lead program is ELX-02, which is in Phase I clinical trial, which focuses on the treatment of cystic fibrosis and cystinosis patients with diagnosed nonsense mutations.

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