The brokerage bunch is already bullish on the stock
AzurRx BioPharma Inc (NASDAQ:AZRX) is a development stage biopharmaceutical firm whose two pipeline products are being developed to treat exocrine pancreatic insufficiency and c. difficile infections. Optimism around the former drug sparked this morning's bull note from Maxim, with the analyst in coverage initiating coverage on AZRX stock with a "buy" rating and $5 price target -- a 191% premium to last night's close.
This upbeat outlook just echoes the withstanding sentiment seen among the brokerage bunch, with all four covering analysts maintaining a "buy" or better rating. Plus, the average 12-month price target of $7.38 stands at a 321.7% premium to current trading levels.
Looking at the charts, AZRX hasn't traded above $5 since September 2017, and the shares have yet to see the north side of $7.38. Since going public in October 2016, the stock has been trending lower, culminating in a Dec. 27 record low of $1.00.
AzurRx BioPharma took a sharp bounce from here, but was swiftly rejected by its 200-day moving average in late January -- a trendline that's kept a tight lid on the shares over the last six months. The stock has shed 30% since this unsuccessful test, but remains 44.6% higher year-to-date -- up 2% today at $1.75.
