Investment analysts at Maxim Group initiated coverage on shares of Bellerophon Therapeutics (NASDAQ:BLPH) in a research report issued on Thursday, January 24th, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $3.00 price target on the biotechnology company’s stock. Maxim Group’s price target indicates a potential upside of 364.40% from the company’s current price.
The analysts wrote, “We are initiating coverage of $3 price target. Bellerophon’s lead product is the INOpulse delivery system of inhaled nitric oxide (iNO) for the outpatient management of pulmonary hypertension (PH) in chronic pulmonary diseases.””
A number of other brokerages have also recently weighed in on BLPH. Zacks Investment Research cut Bellerophon Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. ValuEngine cut Bellerophon Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, December 20th.
Shares of NASDAQ BLPH opened at $0.65 on Thursday. Bellerophon Therapeutics has a one year low of $0.47 and a one year high of $3.30. The firm has a market capitalization of $44.51 million, a P/E ratio of -0.72 and a beta of 0.02.
In other news, Director Naseem Amin purchased 571,429 shares of the firm’s stock in a transaction that occurred on Friday, January 25th. The shares were acquired at an average price of $0.70 per share, for a total transaction of $400,000.30. Following the completion of the acquisition, the director now directly owns 1,818,867 shares in the company, valued at $1,273,206.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 57.80% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC lifted its stake in Bellerophon Therapeutics by 60.2% in the fourth quarter. Virtu Financial LLC now owns 36,708 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 13,799 shares during the period. Vanguard Group Inc lifted its stake in Bellerophon Therapeutics by 2.5% in the third quarter. Vanguard Group Inc now owns 1,023,533 shares of the biotechnology company’s stock valued at $1,105,000 after buying an additional 25,300 shares during the period. Renaissance Technologies LLC lifted its stake in Bellerophon Therapeutics by 4.7% in the third quarter. Renaissance Technologies LLC now owns 1,213,276 shares of the biotechnology company’s stock valued at $1,310,000 after buying an additional 54,076 shares during the period. Finally, VHCP Management III LLC acquired a new position in Bellerophon Therapeutics in the third quarter valued at about $2,456,000. Institutional investors and hedge funds own 50.24% of the company’s stock.
About Bellerophon Therapeutics
Bellerophon Therapeutics, Inc, a clinical-stage therapeutics company, focuses on the development of products at the intersection of drugs and devices for the treatment of cardiopulmonary diseases. The company offers INOpulse, a pulsatile nitric oxide delivery device, which is in Phase III clinical trials for the treatment of pulmonary arterial hypertension; and has completed Phase II clinical trials to treat pulmonary hypertension associated with chronic obstructive pulmonary diseases and pulmonary hypertension associated with idiopathic pulmonary fibrosis.
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