Quantum Biopharma (NASDAQ:QNTM) Posts Earnings Results, Beats Expectations By $0.44 EPS

Quantum Biopharma (NASDAQ:QNTM) posted its quarterly earnings results on Thursday. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.44, FiscalAI reports.

Quantum Biopharma Stock Performance

Shares of NASDAQ:QNTM traded down $0.15 during trading on Friday, reaching $1.63. 38,628 shares of the stock traded hands, compared to its average volume of 260,883. The stock has a 50-day moving average of $2.92 and a two-hundred day moving average of $3.69. Quantum Biopharma has a 52-week low of $1.60 and a 52-week high of $12.42. The stock has a market cap of $13.19 million, a P/E ratio of -0.30 and a beta of 0.51.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Weiss Ratings cut Quantum Biopharma from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, November 2nd. Wall Street Zen raised Quantum Biopharma from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, Rodman & Renshaw began coverage on Quantum Biopharma in a report on Monday, August 31st. They set a “buy” rating and a $8.00 price target for the company. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Quantum Biopharma presently has a consensus rating of “Hold” and an average price target of $8.00.

About Quantum Biopharma

Quantum BioPharma Ltd. is a biotechnology company focused on developing treatments for neurodegenerative and neurological disorders. Its lead drug candidate, Lucid-21-302, also known as Lucid-MS, is an orally administered small molecule being developed as a potential therapy for multiple sclerosis. The company is investigating the compound’s ability to protect nerve cells and promote remyelination, or the repair of damaged myelin. Quantum BioPharma is also pursuing additional applications for its drug-development platform, including potential treatments for other neurodegenerative and mental health conditions.