Eloxx Pharmaceuticals, Inc. (NASDAQ:ELOX) Sees Significant Growth in Short Interest

Eloxx Pharmaceuticals, Inc. (NASDAQ:ELOX) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 45,625 shares, a growth of 58.3% from the August 31st total of 28,830 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average daily volume of 33,064 shares, the short-interest ratio is currently 1.4 days.

Analyst Ratings Changes

Several analysts have recently commented on ELOX shares. Leerink Partners set a $32.00 price objective on Eloxx Pharmaceuticals and gave the stock an “outperform” rating in a research note on Friday, September 18th. Lifesci Capital initiated coverage on Eloxx Pharmaceuticals in a research report on Wednesday, July 22nd. They set an “outperform” rating and a $40.00 target price on the stock. Wall Street Zen upgraded Eloxx Pharmaceuticals to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings started coverage on Eloxx Pharmaceuticals in a research report on Friday, August 14th. They issued a “sell (d)” rating for the company. Finally, Lucid Cap Mkts raised shares of Eloxx Pharmaceuticals to a “strong-buy” rating in a report on Thursday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $38.33.

Eloxx Pharmaceuticals Price Performance

Eloxx Pharmaceuticals stock traded up $0.49 during mid-day trading on Thursday, reaching $15.80. 5,815 shares of the company’s stock were exchanged, compared to its average volume of 47,868. The business has a fifty day simple moving average of $16.53. The company has a market capitalization of $63.83 million, a price-to-earnings ratio of -10.26 and a beta of -1,862.26. Eloxx Pharmaceuticals has a one year low of $8.20 and a one year high of $23.40.

Eloxx Pharmaceuticals (NASDAQ:ELOX) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.66) earnings per share (EPS) for the quarter.

About Eloxx Pharmaceuticals

Eloxx Pharmaceuticals, Inc was a clinical-stage biopharmaceutical company focused on developing therapies for genetic diseases caused by nonsense mutations, which can prevent cells from producing functional proteins. The company’s research platform centered on ribosome modulation, an approach intended to encourage cells to read through certain premature stop signals in genetic instructions.

Its lead product candidate, ELX-02, was an investigational small-molecule therapy designed to promote the production of full-length proteins in diseases associated with nonsense mutations.