HC Wainwright restated their buy rating on shares of Bio-Path (NASDAQ:BPTH) in a research note released on Friday, AnalystRatings.com reports.
“We believe quarterly operating expenses could approximate $2M in 2H19. The company had $17.1M in cash at the end of June 2019, which should support operations into 2H20. In the wake of this update, we reiterate our Buy rating and $28 price target. Combo trial of prexigebersen + decitabine could report safety data in 2H19. Prexigebersen is an antisense DNA molecule that blocks expression of growth factor receptor-bound protein 2 (Grb-2). Prexigebersen has shown favorable safety and positive Phase 2 interim data in combination with low-dose cytarabine (LDAC) in elderly patients with acute myeloid leukemia (AML), demonstrating 65% objective response with a 29% complete response (CR) rate.”,” HC Wainwright’s analyst commented.
Separately, ValuEngine raised shares of Bio-Path from a hold rating to a buy rating in a report on Thursday, August 1st.
Bio-Path (NASDAQ:BPTH) last issued its earnings results on Thursday, August 15th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.60) by ($0.27). On average, analysts anticipate that Bio-Path will post -3.08 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the business. Gainplan LLC purchased a new position in Bio-Path in the first quarter valued at about $204,000. Morgan Stanley increased its holdings in Bio-Path by 19,858.0% in the second quarter. Morgan Stanley now owns 19,958 shares of the company’s stock valued at $267,000 after buying an additional 19,858 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Bio-Path in the first quarter valued at approximately $336,000. Vanguard Group Inc. grew its position in shares of Bio-Path by 10.3% in the second quarter. Vanguard Group Inc. now owns 27,925 shares of the company’s stock valued at $374,000 after purchasing an additional 2,601 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of Bio-Path by 17.5% in the second quarter. BlackRock Inc. now owns 46,879 shares of the company’s stock valued at $628,000 after purchasing an additional 6,978 shares during the last quarter. 11.10% of the stock is owned by institutional investors.
Bio-Path Company Profile
Bio-Path Holdings, Inc operates as a clinical and preclinical stage oncology focused RNAi nano particle drug development company in the United States. The company develops products based on DNAbilize, a drug delivery and antisense technology that uses P-ethoxy, which is a deoxyribonucleic acid (DNA) backbone modification intended to protect the DNA from destruction.
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