Salarius Pharmaceuticals (NASDAQ:SLRX) Rating Lowered to Sell at Zacks Investment Research

Salarius Pharmaceuticals (NASDAQ:SLRXGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “Salarius Pharmaceuticals Inc. is a clinical-stage oncology company. It develops therapies for the treatment of cancers. The company’s lead candidate is Seclidemstat, which is in clinical development for the treatment of Ewing sarcoma, as well as advanced solid tumors, including prostate, breast, and ovarian cancers. Salarius Pharmaceuticals Inc., formerly known as Flex Pharma Inc., is based in Houston, Texas. “

Separately, HC Wainwright dropped their price objective on shares of Salarius Pharmaceuticals from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, March 11th.

Shares of NASDAQ SLRX opened at $0.27 on Thursday. The stock has a fifty day moving average price of $0.39 and a 200 day moving average price of $0.55. Salarius Pharmaceuticals has a 12-month low of $0.26 and a 12-month high of $1.51. The company has a market cap of $12.61 million, a P/E ratio of -0.90 and a beta of 1.20.

Salarius Pharmaceuticals (NASDAQ:SLRXGet Rating) last issued its earnings results on Thursday, March 10th. The company reported ($0.09) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. During the same period in the previous year, the company posted ($0.10) earnings per share. As a group, equities analysts predict that Salarius Pharmaceuticals will post -0.39 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its position in Salarius Pharmaceuticals by 9.5% in the 4th quarter. Geode Capital Management LLC now owns 390,115 shares of the company’s stock valued at $193,000 after buying an additional 34,001 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Salarius Pharmaceuticals in the 4th quarter valued at about $89,000. Two Sigma Advisers LP purchased a new position in Salarius Pharmaceuticals in the 3rd quarter valued at about $114,000. Millennium Management LLC boosted its position in Salarius Pharmaceuticals by 77.6% in the 3rd quarter. Millennium Management LLC now owns 59,480 shares of the company’s stock valued at $61,000 after buying an additional 25,992 shares during the last quarter. Finally, Morgan Stanley boosted its position in Salarius Pharmaceuticals by 54.8% in the 3rd quarter. Morgan Stanley now owns 759,772 shares of the company’s stock valued at $775,000 after buying an additional 268,970 shares during the last quarter. 14.75% of the stock is owned by institutional investors.

Salarius Pharmaceuticals Company Profile (Get Rating)

Salarius Pharmaceuticals, Inc, a clinical-stage biotechnology company, focuses on developing epigenetic-based cancer treatments. The company's lead candidate is Seclidemstat (SP-2577), which is in Phase I/II clinical trial for the treatment of advanced solid tumors, including prostate, breast, and ovarian cancers, as well as Ewing sarcoma.

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