Separately, Zacks Investment Research upgraded shares of Rexahn Pharmaceuticals from a hold rating to a buy rating and set a $0.25 price objective for the company in a research report on Friday, August 12th.
Shares of Rexahn Pharmaceuticals (NYSE:RNN) opened at 0.21 on Wednesday. The stock has a 50 day moving average price of $0.24 and a 200 day moving average price of $0.27. The company’s market capitalization is $44.79 million. Rexahn Pharmaceuticals has a 1-year low of $0.20 and a 1-year high of $0.52.
Rexahn Pharmaceuticals (NYSE:RNN) last announced its quarterly earnings data on Monday, August 8th. The company reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. Analysts forecast that Rexahn Pharmaceuticals will post ($0.07) earnings per share for the current year.
A hedge fund recently raised its stake in Rexahn Pharmaceuticals stock. Vanguard Group Inc. increased its stake in Rexahn Pharmaceuticals, Inc. (NYSE:RNN) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,904,097 shares of the company’s stock after buying an additional 49,761 shares during the period. Vanguard Group Inc. owned 2.30% of Rexahn Pharmaceuticals worth $1,232,000 at the end of the most recent reporting period.
About Rexahn Pharmaceuticals
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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