Zacks Investment Research Lowers Cocrystal Pharma (NASDAQ:COCP) to Sell

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Cocrystal Pharma (NASDAQ:COCP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, reports.

According to Zacks, “Cocrystal Pharma, Inc. is a clinical stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication machinery of hepatitis viruses, influenza viruses, and noroviruses. Cocrystal employs unique structure-based technologies and Nobel Prize winning expertise to create first- and best-in-class antiviral drugs. CC-31244 is a Phase 2a ready broad-spectrum novel non-nucleoside replication inhibitor of HepC. Phase 1b studies in HepC infected patients showed the largest reduction in viral load of any non-nucleoside inhibitor tested to date. The next step for CC-31244 is clinical trials as part of a cocktail for ultra-short therapy of 2 to 6 weeks. The lead candidate for influenza has advanced to IND-enabling studies. It is effective in animal models against both the pandemic and seasonal strains of influenza. In addition, the Company has a pipeline of promising early preclinical programs. Two private investors own approximately 48% of the Company. “

A number of other analysts have also recently commented on COCP. ValuEngine cut shares of Cocrystal Pharma from a “buy” rating to a “hold” rating in a research note on Thursday, November 26th. HC Wainwright reduced their price target on shares of Cocrystal Pharma from $5.00 to $4.50 and set a “buy” rating for the company in a research report on Thursday, November 12th. Finally, Noble Financial reissued a “buy” rating and set a $5.00 price target on shares of Cocrystal Pharma in a research report on Wednesday, November 18th.

NASDAQ:COCP opened at $1.49 on Tuesday. The company’s 50-day simple moving average is $1.50 and its 200-day simple moving average is $1.29. The stock has a market capitalization of $102.16 million, a P/E ratio of -0.89 and a beta of 1.46. Cocrystal Pharma has a fifty-two week low of $0.47 and a fifty-two week high of $3.04.

Cocrystal Pharma (NASDAQ:COCP) last released its earnings results on Monday, November 16th. The company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $0.49 million during the quarter, compared to analysts’ expectations of $0.45 million. Cocrystal Pharma had a negative net margin of 2,938.09% and a negative return on equity of 25.81%. Equities analysts expect that Cocrystal Pharma will post -0.2 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. purchased a new position in Cocrystal Pharma during the 3rd quarter worth approximately $2,656,000. Virtu Financial LLC purchased a new position in shares of Cocrystal Pharma during the 3rd quarter valued at approximately $85,000. Jane Street Group LLC purchased a new position in shares of Cocrystal Pharma during the 3rd quarter valued at approximately $38,000. Finally, UBS Group AG increased its holdings in shares of Cocrystal Pharma by 54.8% during the 2nd quarter. UBS Group AG now owns 17,337 shares of the company’s stock valued at $26,000 after purchasing an additional 6,137 shares in the last quarter. 18.71% of the stock is owned by institutional investors.

About Cocrystal Pharma

Cocrystal Pharma, Inc, a biotechnology company, focuses on the discovery and development of antiviral therapeutic treatments for serious and/or chronic viral diseases. It employs structure-based technologies to create antiviral drugs primarily to treat hepatitis C virus (HCV), influenza virus, coronavirus, and norovirus infections.

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