Eloxx Pharmaceuticals (ELOX) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Eloxx Pharmaceuticals (OTCMKTS:ELOX) from a sell rating to a hold rating in a report published on Monday morning.

According to Zacks, “Eloxx Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. It engaged in developing novel small molecule medicines to treat many rare and ultra-rare genetic diseases caused by nonsense mutations. The company’s lead product candidate consists ELX-02, is an optimized aminoglycoside designed to restore full-length functional proteins. It operates primarily in Waltham, MA and Rehovot, Israel. Eloxx Pharmaceuticals Inc., formerly known as Sevion Therapeutics Inc., is based in WALTHAM, United States. “

A number of other equities analysts have also recently weighed in on ELOX. Canaccord Genuity began coverage on Eloxx Pharmaceuticals in a report on Friday, June 29th. They set a buy rating and a $24.00 price objective on the stock. Citigroup began coverage on Eloxx Pharmaceuticals in a report on Tuesday, July 3rd. They set a buy rating and a $31.00 price objective on the stock. Finally, SunTrust Banks began coverage on Eloxx Pharmaceuticals in a report on Monday, June 25th. They set a buy rating and a $26.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $25.25.

Shares of ELOX opened at $13.50 on Monday. Eloxx Pharmaceuticals has a 12-month low of $3.90 and a 12-month high of $24.60.

Eloxx Pharmaceuticals (OTCMKTS:ELOX) last issued its quarterly earnings results on Tuesday, August 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.03).

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELOX. Strs Ohio bought a new stake in shares of Eloxx Pharmaceuticals during the second quarter valued at approximately $107,000. Tower Research Capital LLC TRC bought a new stake in shares of Eloxx Pharmaceuticals during the second quarter valued at approximately $146,000. Renaissance Technologies LLC bought a new stake in shares of Eloxx Pharmaceuticals during the second quarter valued at approximately $171,000. Rhumbline Advisers bought a new stake in shares of Eloxx Pharmaceuticals during the second quarter valued at approximately $337,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Eloxx Pharmaceuticals during the second quarter valued at approximately $1,038,000.

About Eloxx Pharmaceuticals

Eloxx Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel therapeutics for the treatment of rare and ultra-rare premature stop codon diseases. Its lead program is ELX-02, which is in Phase I clinical trial, which focuses on the treatment of cystic fibrosis and cystinosis patients with diagnosed nonsense mutations.

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