Bio-Path (NASDAQ:BPTH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Zacks.com reports. The brokerage currently has a $8.00 target price on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 3.63% from the stock’s current price.
According to Zacks, “BIO-PATH is developing leading-edge, patented, liposomal drug delivery systems, with two clinical cancer drug candidates ready for the clinic and a third siRNA cancer drug undergoing final pre-clinical development. Bio-Path’s drug delivery technology distributes nucleic acid drugs systemically, throughout the human body, via simple intravenous infusion. The delivery technology can be applied both to double stranded and single stranded nucleic acid compounds with the potential to revolutionize the treatment of cancer and other diseases where drugable targets of disease are well characterized. “
BPTH has been the topic of a number of other reports. HC Wainwright reissued a “buy” rating and issued a $25.00 price target (down from $28.00) on shares of Bio-Path in a report on Monday. ValuEngine cut shares of Bio-Path from a “buy” rating to a “hold” rating in a research note on Tuesday.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Bio-Path by 10.3% in the 2nd quarter. Vanguard Group Inc. now owns 27,925 shares of the company’s stock worth $374,000 after acquiring an additional 2,601 shares during the last quarter. BlackRock Inc. increased its position in shares of Bio-Path by 17.5% in the second quarter. BlackRock Inc. now owns 46,879 shares of the company’s stock worth $628,000 after purchasing an additional 6,978 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Bio-Path by 19,858.0% in the second quarter. Morgan Stanley now owns 19,958 shares of the company’s stock worth $267,000 after purchasing an additional 19,858 shares during the last quarter. Hedge funds and other institutional investors own 6.13% of the company’s stock.
Bio-Path Holdings, Inc operates as a clinical and preclinical stage oncology focused RNAi nano particle drug development company in the United States. The company develops products based on DNAbilize, a drug delivery and antisense technology that uses P-ethoxy, which is a deoxyribonucleic acid (DNA) backbone modification intended to protect the DNA from destruction.
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