Stock Update (NYSEMKT:RNN): Rexahn Pharmaceuticals, Inc. Reports Third Quarter 2015 Financial Results and Provides Corporate Update
Rexahn Pharmaceuticals, Inc. (NYSEMKT:RNN), a clinical stage biopharmaceutical company developing best-in-class therapeutics for the treatment of cancer, today announced financial results for the third quarter ended September 30, 2015 and provided an update on recent corporate and oncology pipeline developments.
“Rexahn made important progress during the third quarter presenting new interim clinical data for Supinoxin and RX-3117 at an international medical conference,” said Peter D. Suzdak, Ph.D., Chief Executive Officer. “We were particularly excited to see that these compounds appear to be safe and well tolerated in ongoing clinical studies and show encouraging early signs of clinical efficacy exhibited as stable disease or in some cases, tumor regression. Given that these are very sick patients with advanced disease that have been heavily pre-treated and have previously failed other forms of therapy, we are especially pleased to observe potential efficacy signals at this stage. Rexahn is committed to developing novel, highly targeted cancer treatments that may bring meaningful quality of life improvements for patients and their families and we look forward to continuing to advance our next generation cancer programs through clinical development.” (Original Source)
Shares of Rexahn Pharmaceuticals closed yesterday at $0.45. RNN has a 1-year high of $0.96 and a 1-year low of $0.41. The stock’s 50-day moving average is $0.50 and its 200-day moving average is $0.60.
On the ratings front, Rexahn has been the subject of a number of recent research reports. In a report issued on September 28, Roth Capital analyst Joseph Pantginis maintained a Buy rating on RNN, with a price target of $3, which implies an upside of 563.7% from current levels. Separately, on August 11, FBR’s Vernon Bernardino reiterated a Buy rating on the stock and has a price target of $1.25.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Joseph Pantginis and Vernon Bernardino have a total average return of -4.0% and -17.1% respectively. Pantginis has a success rate of 36.7% and is ranked #3699 out of 3816 analysts, while Bernardino has a success rate of 26.3% and is ranked #3780.
Rexahn Pharmaceuticals Inc is a clinical stage biopharmaceutical company dedicated to the discovery, development and commercialization of treatments for cancer and other medical needs.