UPDATE: Raymond James Upgrades PLx Pharma (PLXP) to Outperform

Raymond James analyst Elliot Wilbur upgraded PLx Pharma (NASDAQ: PLXP) from Market Perform to Outperform with a price target of $14.00.

The analyst comments "We are upgrading shares of PLx Pharma to Outperform and establishing a $14 share price target. Our price target is derived from a multi-stage DCF model, described in more detail in our note, which we believe most accurately reflects the long-term commercial opportunity of the recently launched Vazalore, a liquid-filled aspirin formulation representing the first new innovation in the category in decades. Since late September, PLXP shares have skidded nearly 60% with the recent draw down, in our view, lacking any fundamental change in overall Vazalore positioning or opportunity. Current levels significantly de-risk shares into typical underperformance windows surrounding initial drug launches and offer a compelling entry point to participate in the long-term growth of the asset which we believe has peak sales potential north of $250.0M."

For an analyst ratings summary and ratings history on PLx Pharma click here. For more ratings news on PLx Pharma click here.

Shares of PLx Pharma closed at $8.18 yesterday.

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