Alliqua BioMedical, Inc. (NASDAQ:ALQA) shares saw unusually-strong trading volume on Wednesday . Approximately 2,145,304 shares changed hands during trading, an increase of 243% from the previous session’s volume of 625,928 shares.The stock last traded at $0.37 and had previously closed at $0.32.
A number of brokerages have weighed in on ALQA. Zacks Investment Research raised Alliqua BioMedical from a “hold” rating to a “buy” rating and set a $0.25 target price on the stock in a report on Tuesday. HC Wainwright reduced their target price on Alliqua BioMedical from $2.50 to $1.50 and set a “buy” rating on the stock in a report on Tuesday, July 4th. Finally, ValuEngine downgraded Alliqua BioMedical from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $1.25.
The firm’s 50 day moving average price is $0.32 and its 200 day moving average price is $0.41. The firm’s market cap is $17.04 million.
Alliqua BioMedical (NASDAQ:ALQA) last released its quarterly earnings results on Thursday, August 10th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.05. The firm had revenue of $5.52 million for the quarter, compared to analysts’ expectations of $5.01 million. Alliqua BioMedical had a negative net margin of 185.30% and a negative return on equity of 107.24%. The business’s quarterly revenue was up 23.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.22) earnings per share. On average, analysts expect that Alliqua BioMedical, Inc. will post ($0.43) earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Sabby Management LLC increased its holdings in shares of Alliqua BioMedical by 93.7% in the first quarter. Sabby Management LLC now owns 2,131,050 shares of the company’s stock worth $1,076,000 after purchasing an additional 1,030,652 shares during the period. Perceptive Advisors LLC increased its holdings in shares of Alliqua BioMedical by 120.3% in the first quarter. Perceptive Advisors LLC now owns 4,233,951 shares of the company’s stock worth $2,136,000 after purchasing an additional 2,312,000 shares during the period. KCG Holdings Inc. increased its holdings in shares of Alliqua BioMedical by 777.7% in the first quarter. KCG Holdings Inc. now owns 525,077 shares of the company’s stock worth $265,000 after purchasing an additional 465,256 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Alliqua BioMedical by 54.2% in the first quarter. Renaissance Technologies LLC now owns 632,800 shares of the company’s stock worth $319,000 after purchasing an additional 222,400 shares during the period. 21.68% of the stock is currently owned by hedge funds and other institutional investors.
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Alliqua BioMedical Company Profile
Alliqua BioMedical, Inc is a provider of advanced wound care solutions. The Company’s businesses include advanced wound care and contract manufacturing. The Company operates through its subsidiaries, such as AquaMed Technologies, Inc and Choice Therapeutics, Inc The Company is engaged in developing a suite of advanced wound care solutions that will enable surgeons, clinicians and wound care practitioners to address the challenges in chronic and acute wounds.
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