JMP Securities slashes price target on Baudax Bio Inc. [BXRX] – find out why.

Baudax Bio Inc. [NASDAQ: BXRX] price surged by 7.97 percent to reach at $0.15. The company report on December 8, 2022 that Baudax Bio Initiates Phase II Clinical Trial Evaluating BX1000 in Patients Undergoing Surgery.

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This randomized, double-blind clinical trial will study BX1000 in approximately 80 adult patients, 18-65 years of age, who undergo elective surgery utilizing total intravenous anesthesia (TIVA) in an outpatient setting. Patients will undergo elective surgery with an intravenous (IV) line for anesthesia and study drug administration. Once anesthetized, neuromuscular monitoring will be initiated via electromyography (EMG), and approximately 3-5 minutes after induction of anesthesia, the randomized NMB treatment will be administered as an IV bolus. Intubation conditions will be assessed at 60 seconds after administration of the NMB dose and will be reassessed at 90 and 120 seconds if needed, with tracheal intubation performed when clinically acceptable conditions are identified. These “intubating conditions” represent the endpoint for NDA approval for NMB agents. Following successful tracheal intubation, patients will proceed to undergo their elective surgical procedures according to the standard practice of the investigator or surgical unit. Patients will be monitored post-surgery in the anesthesia recovery area and will be transferred to the inpatient facility where they will remain for at least 8 hours following NMB administration, to be discharged at the discretion of the investigator. There will be an in-person follow-up visit and several telephonic safety follow ups as well.

A sum of 6081534 shares traded at recent session while its average daily volume was at 495.16K shares. Baudax Bio Inc. shares reached a high of $2.7499 and dropped to a low of $1.67 until finishing in the latest session at $2.01.

The one-year BXRX stock forecast points to a potential upside of 91.63. The average equity rating for BXRX stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Baudax Bio Inc. [BXRX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BXRX shares is $24.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BXRX stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JMP Securities have made an estimate for Baudax Bio Inc. shares, keeping their opinion on the stock as Mkt Outperform, with their previous recommendation back on May 15, 2020.

The Average True Range (ATR) for Baudax Bio Inc. is set at 0.95, with the Price to Sales ratio for BXRX stock in the period of the last 12 months amounting to 0.96.

BXRX Stock Performance Analysis:

Baudax Bio Inc. [BXRX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -35.37. With this latest performance, BXRX shares dropped by -62.86% in over the last four-week period, additionally sinking by -93.17% over the last 6 months – not to mention a drop of -99.58% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BXRX stock in for the last two-week period is set at 30.65, with the RSI for the last a single of trading hit 29.47, and the three-weeks RSI is set at 31.12 for Baudax Bio Inc. [BXRX]. The present Moving Average for the last 50 days of trading for this stock 6.0200, while it was recorded at 2.1900 for the last single week of trading, and 30.3100 for the last 200 days.

Insight into Baudax Bio Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Baudax Bio Inc. [BXRX] shares currently have an operating margin of -4849.63 and a Gross Margin at -387.13. Baudax Bio Inc.’s Net Margin is presently recorded at -1830.46.

Baudax Bio Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.50.

Baudax Bio Inc. [BXRX] Insider Position Details

There are presently around $0 million, or 7.30% of BXRX stock, in the hands of institutional investors. The top three institutional holders of BXRX stocks are: SABBY MANAGEMENT, LLC with ownership of 10,981, which is approximately 832.173% of the company’s market cap and around 0.30% of the total institutional ownership; WARBERG ASSET MANAGEMENT LLC, holding 6,750 shares of the stock with an approximate value of $14000.0 in BXRX stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $12000.0 in BXRX stock with ownership of nearly -24.563% of the company’s market capitalization.

Positions in Baudax Bio Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 11 institutional holders increased their position in Baudax Bio Inc. [NASDAQ:BXRX] by around 22,990 shares. Additionally, 9 investors decreased positions by around 19,045 shares, while 5 investors held positions by with 6,163 shares. The mentioned changes placed institutional holdings at 35,872 shares, according to the latest SEC report filing. BXRX stock had 6 new institutional investments in for a total of 3,236 shares, while 5 institutional investors sold positions of 17,035 shares during the same period.


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