Leerink Swann Reiterates a Buy Rating on Aquinox PharmaceuticalsBy Jason Carr
In a report released yesterday, Paul Matteis from Leerink Swann reiterated a Buy rating on Aquinox Pharmaceuticals (NASDAQ: AQXP), with a price target of $24. The company’s shares opened today at $12.84.
“We believe the duration of effect – if demonstrated to be robust in a longer trial – could represent an upside lever to our model given the chronic/incurable nature of BPS and the fact that our base case assumes a mean treatment duration of 5 months.”
According to TipRanks.com, Matteis is a 4-star analyst with an average return of 6.8% and a 56.5% success rate. Matteis covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals Inc, Paratek Pharmaceuticals, and ACADIA Pharmaceuticals.
Currently, the analyst consensus on Aquinox Pharmaceuticals is Strong Buy and the average price target is $24.50, representing a 90.8% upside.
In a report released yesterday, Needham also reiterated a Buy rating on the stock with a $25 price target.
Based on Aquinox Pharmaceuticals’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $0 and GAAP net loss of $8.15 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $5.04 million.
Aquinox Pharmaceuticals, Inc. is a clinical-stage pharmaceutical company. It discovers and develops targeted therapeutics for inflammation and immuno-oncology. The company’s primary focus is on anti-inflammatory product candidates targeting SHIP1, which is a key regulator of an important cellular signaling pathway in immune cells, known as the PI3K pathway. Aquinox Pharmaceuticals was founded by Raymond J. Andersen, David J. Main, Low Fung Mui, Christopher John Ong and Gerald Krysta on December 26, 2003 and is headquartered in Vancouver, Canada.