Rexahn Pharmaceuticals (NYSEAMERICAN:RNN) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 2,543,082 shares, a growth of 3.6% from the April 30th total of 2,454,083 shares. Approximately 8.2% of the company’s shares are short sold. Based on an average daily volume of 699,211 shares, the short-interest ratio is currently 3.6 days.
RNN has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Rexahn Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, May 10th. HC Wainwright set a $20.00 price objective on shares of Rexahn Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, May 15th. Two equities research analysts have rated the stock with a sell rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $13.75.
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RNN stock opened at $2.16 on Friday. Rexahn Pharmaceuticals has a 12-month low of $1.42 and a 12-month high of $4.37.
Rexahn Pharmaceuticals (NYSEAMERICAN:RNN) last released its earnings results on Monday, May 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.04).
A hedge fund recently raised its stake in Rexahn Pharmaceuticals stock. Northern Trust Corp boosted its stake in Rexahn Pharmaceuticals (NYSEAMERICAN:RNN) by 61.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,213 shares of the company’s stock after buying an additional 29,354 shares during the quarter. Northern Trust Corp owned approximately 0.24% of Rexahn Pharmaceuticals worth $117,000 at the end of the most recent quarter.
About Rexahn Pharmaceuticals
Rexahn Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes treatments for cancer. The company's clinical stage drug candidates include RX-3117, which is in Phase II a clinical trial for the treatment of patients with relapsed or refractory pancreatic cancer and advanced bladder cancer; and Supinoxin that is in Phase II a clinical study to treat patients with metastatic triple negative breast cancer.