Zacks Investment Research upgraded shares of Zosano Pharma (NASDAQ:ZSAN) from a sell rating to a hold rating in a research note released on Saturday, Zacks.com reports.
According to Zacks, “Zosano Pharma Corporation is a biopharmaceutical company. It is engaged in developing a transdermal micro needle patch system to deliver formulations of existing drugs through the skin for the treatment of a variety of indications. The Company’s lead product candidates include Weekly ZP-PTH for severe osteoporosis; ZP-Glucagon for severe hypoglycemia and ZP-Triptan, for migraine. Zosano Pharma Corporation is headquartered in Fremont, California. “
Other analysts have also recently issued reports about the company. BTIG Research lowered their price target on Zosano Pharma from $16.00 to $7.00 and set a buy rating for the company in a research note on Friday, March 27th. ValuEngine raised Zosano Pharma from a hold rating to a buy rating in a research note on Thursday, April 2nd. Maxim Group reissued a buy rating on shares of Zosano Pharma in a research note on Wednesday, May 20th. Finally, HC Wainwright reissued a buy rating and set a $4.00 target price on shares of Zosano Pharma in a research note on Monday, June 15th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of Buy and an average price target of $4.00.
Shares of ZSAN stock opened at $0.82 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $44.18 million, a PE ratio of -0.45 and a beta of 2.73. The stock has a 50-day moving average of $0.90 and a 200-day moving average of $0.94. Zosano Pharma has a one year low of $0.41 and a one year high of $3.54.
Zosano Pharma (NASDAQ:ZSAN) last announced its quarterly earnings results on Thursday, May 14th. The biotechnology company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. As a group, research analysts anticipate that Zosano Pharma will post -0.5 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Sabby Management LLC bought a new stake in Zosano Pharma during the 1st quarter worth approximately $114,000. Telemetry Investments L.L.C. grew its stake in shares of Zosano Pharma by 202.7% during the 1st quarter. Telemetry Investments L.L.C. now owns 2,607,767 shares of the biotechnology company’s stock worth $1,466,000 after acquiring an additional 1,746,267 shares in the last quarter. BlackRock Inc. grew its stake in shares of Zosano Pharma by 6.8% during the 1st quarter. BlackRock Inc. now owns 385,675 shares of the biotechnology company’s stock worth $216,000 after acquiring an additional 24,431 shares in the last quarter. UBS Group AG grew its stake in shares of Zosano Pharma by 45.8% during the 1st quarter. UBS Group AG now owns 99,932 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 31,375 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. bought a new position in shares of Zosano Pharma during the 4th quarter worth approximately $182,000. 17.05% of the stock is owned by institutional investors and hedge funds.
Zosano Pharma Company Profile
Zosano Pharma Corporation, a clinical stage biopharmaceutical company, focuses on providing therapeutics to patients suffering from migraine using its Adhesive Dermally-Applied Microarray technology. Its lead product candidate is M207, a proprietary formulation of zolmitriptan used for the treatment of migraine.
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