Biopharmx Corp (BPMX) Earns Buy Rating from Maxim Group

Biopharmx Corp (NASDAQ:BPMX)‘s stock had its “buy” rating reiterated by equities researchers at Maxim Group in a research report issued to clients and investors on Thursday, May 4th. They currently have a $3.00 target price on the stock.

The analysts wrote, “The Phase 2b study was a randomized, double-blind, three-arm, vehicle- controlled dose-finding study to assess the efficacy and safety of BPX-01 for the treatment of acne vulgaris.””

Other analysts also recently issued research reports about the company. HC Wainwright set a $3.00 target price on Biopharmx Corp and gave the company a “buy” rating in a research note on Monday, March 27th. Roth Capital set a $3.00 price objective on Biopharmx Corp and gave the stock a “buy” rating in a research note on Saturday, March 25th.

Shares of Biopharmx Corp (NASDAQ:BPMX) traded up 8.9111% during midday trading on Thursday, hitting $0.4901. 1,462,431 shares of the stock were exchanged. The firm has a 50 day moving average of $0.63 and a 200-day moving average of $0.46. Biopharmx Corp has a one year low of $0.19 and a one year high of $1.22. The company’s market cap is $33.19 million.

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In other news, major shareholder Vivo Capital Fund Viii, L.P. acquired 1,282,052 shares of the company’s stock in a transaction dated Friday, April 28th. The shares were bought at an average price of $0.78 per share, with a total value of $1,000,000.56. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

An institutional investor recently raised its position in Biopharmx Corp stock. Vanguard Group Inc. increased its position in Biopharmx Corp (NASDAQ:BPMX) by 71.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 455,409 shares of the company’s stock after buying an additional 190,524 shares during the period. Vanguard Group Inc. owned about 0.67% of Biopharmx Corp worth $230,000 as of its most recent SEC filing.

About Biopharmx Corp

BioPharmX Corporation is a specialty pharmaceutical company. The Company is focused on utilizing its drug delivery technologies to develop and commercialize prescription and over-the-counter (OTC) products that address markets in women’s health and dermatology. Its portfolio of product candidates includes two clinical stage product candidates: BPX01, which is a topical antibiotic for the treatment of acne based on a formulation of minocycline, and BPX03, which is a molecular iodine (I2) tablet for the treatment of benign breast pain associated with fibrocystic breast condition (FBC) and cyclic mastalgia.

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