Cowen Raises Price Target on Aquinox Pharma (AQXP) Following R&D Day

Cowen reiterated an Outperform rating on Aquinox Pharmaceutical (NASDAQ: AQXP), and raised the price target to $24.00 (from $14.00), following the company's R&D day. AQXP presented positive Ph2 AQXP-1125 LEADERSHIP BPS/IC trial data, at the event.

Analyst Ritu Baral commented, "AQXP presented additional positive Ph2 AQXP-1125 LEADERSHIP BPS/IC trial data detail at its R&D day. We believe the proposed BPS/IC Phase 3 trial looks well designed and powered and has good chance of success, addressing a key unmet medical need. Our new $24 target (from $14) is driven by larger peak market share."

For an analyst ratings summary and ratings history on Aquinox Pharmaceutical click here. For more ratings news on Aquinox Pharmaceutical click here.

Shares of Aquinox Pharmaceutical closed at $12.90 yesterday.

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