Noble Financial Cuts Baudax Bio (NASDAQ:BXRX) Price Target to $2.00

Baudax Bio (NASDAQ:BXRXGet Rating) had its price objective trimmed by Noble Financial to $2.00 in a research note released on Tuesday morning, Stock Target Advisor reports.

Baudax Bio Price Performance

Baudax Bio stock opened at $0.30 on Tuesday. Baudax Bio has a 12 month low of $0.30 and a 12 month high of $25.03. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.69 and a quick ratio of 0.40. The business has a 50 day simple moving average of $0.74 and a 200-day simple moving average of $1.29. The stock has a market capitalization of $2.43 million, a PE ratio of -0.26 and a beta of 1.69.

Institutional Investors Weigh In On Baudax Bio

Large investors have recently modified their holdings of the stock. Warberg Asset Management LLC purchased a new stake in shares of Baudax Bio during the first quarter worth approximately $61,000. Walleye Capital LLC purchased a new stake in shares of Baudax Bio during the second quarter worth approximately $165,000. Renaissance Technologies LLC grew its holdings in Baudax Bio by 117.9% during the first quarter. Renaissance Technologies LLC now owns 237,300 shares of the company’s stock worth $420,000 after acquiring an additional 128,400 shares during the period. Alyeska Investment Group L.P. acquired a new position in Baudax Bio during the first quarter worth $814,000. Finally, GSA Capital Partners LLP acquired a new position in Baudax Bio during the fourth quarter worth $152,000. Hedge funds and other institutional investors own 21.10% of the company’s stock.

Baudax Bio Company Profile

(Get Rating)

Baudax Bio, Inc, a pharmaceutical company, develops and commercializes products for hospital and other acute care settings. The company offers ANJESO (meloxicam) injection for the management of moderate to severe pain, alone or in combination with non-NSAID analgesics. Its products under development includes BX1000, an intermediate-acting neuromuscular blocking agent (NMB) that is in phase II clinical trial; BX2000, an ultra- short acting NMBA, which is in phase I clinical trial; BX3000, an NMBA reversal agent; and Dex-IN, a proprietary intranasal formulation of dexmedetomidine.

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