Alliqua BioMedical, Inc. (ALQA) Stock Rating Lowered by Zacks Investment Research

Alliqua BioMedical, Inc. (NASDAQ:ALQA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Alliqua, Inc. is a biomedical company. The company focused on the development, manufacturing and distribution of proprietary transdermal wound care and drug delivery technologies. Its technology platform produces hydrogels, a 3-dimensional cross-linked network of water soluble polymers. The company’s product includes SilverSeal(R) a hydrogel wound dressing with silver coated fibers and Hydress(R) an over-the-counter hydrogel wound dressing. It serves the healthcare industry including wound healing, medical diagnostics and cosmeceuticals. Alliqua, Inc. is headquartered in Langhorne, Pennsylvania. “

A number of other equities analysts have also issued reports on the company. HC Wainwright set a $2.00 target price on Alliqua BioMedical and gave the company a “buy” rating in a research report on Friday, August 11th. ValuEngine lowered Alliqua BioMedical from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Alliqua BioMedical presently has a consensus rating of “Hold” and a consensus target price of $1.31.

Alliqua BioMedical (NASDAQ:ALQA) traded down 6.3075% during mid-day trading on Wednesday, hitting $0.2748. 200,447 shares of the company were exchanged. Alliqua BioMedical has a 12 month low of $0.26 and a 12 month high of $1.13. The stock’s market cap is $12.63 million. The firm has a 50 day moving average price of $0.36 and a 200 day moving average price of $0.45.

Alliqua BioMedical (NASDAQ:ALQA) last announced its earnings results on Thursday, August 10th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.05. Alliqua BioMedical had a negative return on equity of 107.24% and a negative net margin of 185.30%. The company had revenue of $5.52 million for the quarter, compared to analyst estimates of $5.01 million. During the same period in the prior year, the company posted ($0.22) EPS. Alliqua BioMedical’s quarterly revenue was up 23.5% on a year-over-year basis. Analysts anticipate that Alliqua BioMedical will post ($0.44) EPS for the current fiscal year.

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Several institutional investors have recently made changes to their positions in ALQA. Perceptive Advisors LLC increased its stake in shares of Alliqua BioMedical by 120.3% in the first quarter. Perceptive Advisors LLC now owns 4,233,951 shares of the company’s stock worth $2,136,000 after buying an additional 2,312,000 shares during the period. Sabby Management LLC increased its stake in shares of Alliqua BioMedical by 93.7% in the first quarter. Sabby Management LLC now owns 2,131,050 shares of the company’s stock worth $1,076,000 after buying an additional 1,030,652 shares during the period. KCG Holdings Inc. increased its stake in shares of Alliqua BioMedical by 777.7% in the first quarter. KCG Holdings Inc. now owns 525,077 shares of the company’s stock worth $265,000 after buying an additional 465,256 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Alliqua BioMedical by 54.2% in the first quarter. Renaissance Technologies LLC now owns 632,800 shares of the company’s stock worth $319,000 after buying an additional 222,400 shares during the period. 24.04% of the stock is currently owned by institutional investors.

About Alliqua BioMedical

Alliqua BioMedical, Inc is a provider of advanced wound care solutions. The Company’s businesses include advanced wound care and contract manufacturing. The Company operates through its subsidiaries, such as AquaMed Technologies, Inc and Choice Therapeutics, Inc The Company is engaged in developing a suite of advanced wound care solutions that will enable surgeons, clinicians and wound care practitioners to address the challenges in chronic and acute wounds.

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