Analysts Set $5.75 Target Price for RXi Pharmaceuticals Corp. (RXII)

RXi Pharmaceuticals Corp. (NASDAQ:RXII) has earned an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 1-year consensus price target of $5.75 for the company and are anticipating that the company will post ($0.34) earnings per share for the current quarter, according to Zacks. Zacks has also given RXi Pharmaceuticals Corp. an industry rank of 108 out of 265 based on the ratings given to related companies.

Separately, Zacks Investment Research lowered shares of RXi Pharmaceuticals Corp. from a “buy” rating to a “hold” rating in a report on Friday, July 15th.

A hedge fund recently raised its stake in RXi Pharmaceuticals Corp. stock. Renaissance Technologies LLC increased its position in shares of RXi Pharmaceuticals Corp. (NASDAQ:RXII) by 22.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 950,900 shares of the biotechnology company’s stock after buying an additional 172,100 shares during the period. Renaissance Technologies LLC owned 1.46% of RXi Pharmaceuticals Corp. worth $257,000 as of its most recent filing with the SEC. 11.76% of the stock is currently owned by institutional investors and hedge funds.

Shares of RXi Pharmaceuticals Corp. (NASDAQ:RXII) traded down 7.82% during mid-day trading on Tuesday, hitting $1.06. 103,480 shares of the stock were exchanged. The stock’s market capitalization is $6.95 million. The stock’s 50-day moving average is $1.94 and its 200-day moving average is $2.23. RXi Pharmaceuticals Corp. has a 52 week low of $0.99 and a 52 week high of $5.30.

RXi Pharmaceuticals Corp. (NASDAQ:RXII) last released its earnings results on Thursday, August 11th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.02. During the same quarter in the previous year, the business earned ($0.50) earnings per share. Analysts forecast that RXi Pharmaceuticals Corp. will post ($1.40) earnings per share for the current fiscal year.

About RXi Pharmaceuticals Corp.

RXi Pharmaceuticals Corporation is a clinical-stage ribonucleic acid (RNA) interference (RNAi) company developing therapeutics in dermatology and ophthalmology that address unmet medical needs. The Company’s development programs are based on its self-delivering RNAi (sd-rxRNA) platform and Samcyprone, a topical immunomodulator.

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