Rodman & Renshaw Begins Coverage on Quantum Biopharma (NASDAQ:QNTM)

Equities researchers at Rodman & Renshaw started coverage on shares of Quantum Biopharma (NASDAQ:QNTM) in a research note issued to investors on Monday. The brokerage set a “buy” rating and a $8.00 price target on the stock. Rodman & Renshaw’s target price would indicate a potential upside of 159.74% from the company’s current price.

Several other analysts have also commented on the company. Weiss Ratings raised Quantum Biopharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Wall Street Zen raised Quantum Biopharma from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $8.00.

Quantum Biopharma Price Performance

NASDAQ:QNTM opened at $3.08 on Monday. Quantum Biopharma has a 52 week low of $2.07 and a 52 week high of $21.00. The stock has a market capitalization of $19.71 million, a PE ratio of -0.56 and a beta of 0.45. The stock’s 50-day moving average price is $3.32 and its 200-day moving average price is $3.97.

Quantum Biopharma (NASDAQ:QNTM) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.06).

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of QNTM. Virtu Financial LLC purchased a new position in Quantum Biopharma in the 4th quarter valued at about $76,000. Jane Street Group LLC purchased a new stake in Quantum Biopharma during the 4th quarter worth approximately $80,000. Finally, Platform Technology Partners purchased a new stake in Quantum Biopharma during the 1st quarter worth approximately $199,000. 1.24% of the stock is owned by hedge funds and other institutional investors.

About Quantum Biopharma

Quantum Biopharma Ltd. is a biotechnology pharmaceutical research and development company, which focuses on the cultivation, process, and sale of medical cannabis. It operates through the Biotechnology and Strategic Investments segments. The Biotechnology segment is involved in the research and development of the company’s three drug candidates consisting of FSD-PEA, Lucid-PSYCH, and Lucid-MS. The Strategic Investments segment is focused on generating returns and cashflow through the issuance of loans secured by residential or commercial property.