Cantor Fitzgerald Sticks to Their Buy Rating for Aquinox Pharmaceuticals

Cantor Fitzgerald analyst William Tanner reiterated a Buy rating on Aquinox Pharmaceuticals (NASDAQ: AQXP) today and set a price target of $28. The company’s shares opened today at $13.10.

Tanner commented:

“Top-line LEADERSHIP-301 data expected in 3Q18. The trial is designed to enroll 433 subjects and test two doses of rosiptor, 100mg and 200mg daily, vs. placebo with change from baseline in maximum daily bladder pain score the primary endpoint. If positive, AQXP will likely have to conduct a second Phase 3 trial to support approval.”

According to TipRanks.com, Tanner is a 4-star analyst with an average return of 7.6% and a 50.6% success rate. Tanner covers the Healthcare sector, focusing on stocks such as Synergy Pharmaceuticals Inc, Supernus Pharmaceuticals, and Intra-Cellular Therapies.

Aquinox Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $25.

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Based on Aquinox Pharmaceuticals’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $16.27 million. In comparison, last year the company had a GAAP net loss of $8.32 million.

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Aquinox Pharmaceuticals, Inc. operates as a clinical-stage pharmaceutical company. It discovers and develops targeted therapeutics for inflammation and immuno-oncology. It also focuses on anti-inflammatory product candidates targeting SHIP1, which is a key regulator of an important cellular signaling pathway in immune cells, known as the PI3K pathway.