Zosano Pharma (NASDAQ:ZSAN) Rating Increased to Buy at ValuEngine

Zosano Pharma (NASDAQ:ZSAN) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, ValuEngine reports.

Several other equities analysts have also issued reports on ZSAN. Zacks Investment Research raised Zosano Pharma from a “hold” rating to a “buy” rating and set a $3.50 price target on the stock in a research note on Thursday, June 27th. Maxim Group began coverage on Zosano Pharma in a research note on Wednesday, April 17th. They set a “buy” rating and a $8.00 price target on the stock. Finally, Cantor Fitzgerald began coverage on Zosano Pharma in a research note on Monday, April 22nd. They set an “overweight” rating and a $3.66 price target on the stock. Five research analysts have rated the stock with a buy rating, Zosano Pharma currently has an average rating of “Buy” and a consensus price target of $8.54.

Zosano Pharma stock opened at $2.75 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.69. Zosano Pharma has a 52 week low of $1.85 and a 52 week high of $6.65. The business has a fifty day simple moving average of $3.12.

Zosano Pharma (NASDAQ:ZSAN) last issued its quarterly earnings results on Tuesday, May 14th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.78) by ($0.01). Research analysts anticipate that Zosano Pharma will post -2.58 earnings per share for the current year.

A hedge fund recently bought a new stake in Zosano Pharma stock. MYDA Advisors LLC purchased a new position in shares of Zosano Pharma Corp (NASDAQ:ZSAN) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 72,000 shares of the biotechnology company’s stock, valued at approximately $343,000. MYDA Advisors LLC owned about 0.42% of Zosano Pharma at the end of the most recent reporting period. Hedge funds and other institutional investors own 23.27% of the company’s stock.

About Zosano Pharma

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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