Aquinox Pharmaceuticals Inc (NASDAQ:AQXP) a Buy: Canaccord Genuity

In a research note issued to investors, Corey Davis at Canaccord Genuity Reiterated their Buy rating on Aquinox Pharmaceuticals Inc (NASDAQ:AQXP). The analyst placed a $16.00 price target on the stock which indicates a 115.05% upside to the last closing price. In the year following Davis’s ratings, the stocks covered yield an average return of 16.9% according to TipRanks.com. In the past year 41 out of 74 recommendations or 55% were successful.

Wall Street sell-side analysts have placed a $15 one year price target on Aquinox Pharmaceuticals, Inc. (NASDAQ:AQXP). This is the consensus average based on 2 firms who have recently issued reports on the equity.

The average recommendation is the arithmetical average of the individual analyst ratings contributed by sell-side research to produce a Consensus Analyst Rating for each stock. On a scale of 1 to 5 where 1 represents a Strong Buy and 5 represents a Strong Sell,Aquinox Pharmaceuticals, Inc. (NASDAQ:AQXP) is ranked 1 based on 2 broker recommendations. Of the 2 analyst estimates, the most bullish sees the stock reaching $17 within the next 12 months while the most bearish analyst sees the stock at $13 within the year.

Taking a look at the long term growth prospects of the stock, sell-side analysts have a consensus mean earnings per share estimate for the current year of $N/A. The high end estimate for this time frame is $N/A with the low being $N/A.

According to analysts, Aquinox Pharmaceuticals, Inc. (NASDAQ:AQXP) is expected to report earnings per share for the current fiscal quarter of $-0.6. This is the consensus mean estimate based on the individual covering sell-side firm’s reported numbers. The company last reported earnings for the period ending on 2015-03-31 of $-0.6.

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