Zosano Pharma (NASDAQ:ZSAN) Downgraded to Hold at Maxim Group

Zosano Pharma (NASDAQ:ZSANGet Rating) was downgraded by equities research analysts at Maxim Group from a “buy” rating to a “hold” rating in a research note issued on Monday, The Fly reports.

Other equities analysts have also recently issued research reports about the stock. BTIG Research cut shares of Zosano Pharma from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 23rd. StockNews.com initiated coverage on shares of Zosano Pharma in a research report on Tuesday, April 19th. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $48.13.

Shares of NASDAQ:ZSAN traded down $0.23 during mid-day trading on Monday, reaching $1.66. 23,969 shares of the company were exchanged, compared to its average volume of 412,990. The firm has a market cap of $8.04 million, a price-to-earnings ratio of -0.18 and a beta of 2.98. The firm’s 50-day simple moving average is $7.37 and its 200 day simple moving average is $14.52. Zosano Pharma has a 1 year low of $1.78 and a 1 year high of $37.45.

Zosano Pharma (NASDAQ:ZSANGet Rating) last issued its quarterly earnings results on Thursday, March 17th. The biotechnology company reported ($2.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.45) by $0.35. Zosano Pharma had a negative net margin of 3,812.10% and a negative return on equity of 80.12%. The company had revenue of $0.09 million during the quarter. On average, research analysts predict that Zosano Pharma will post -7.69 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in ZSAN. LPL Financial LLC raised its stake in Zosano Pharma by 95.7% during the 3rd quarter. LPL Financial LLC now owns 58,700 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 28,700 shares in the last quarter. Citadel Advisors LLC raised its stake in Zosano Pharma by 263.9% during the 3rd quarter. Citadel Advisors LLC now owns 146,166 shares of the biotechnology company’s stock worth $105,000 after acquiring an additional 105,999 shares in the last quarter. Barclays PLC raised its stake in Zosano Pharma by 50.0% during the 3rd quarter. Barclays PLC now owns 300,000 shares of the biotechnology company’s stock worth $216,000 after acquiring an additional 100,000 shares in the last quarter. Millennium Management LLC acquired a new stake in Zosano Pharma during the 2nd quarter worth $65,000. Finally, Morgan Stanley raised its stake in Zosano Pharma by 954.9% during the 1st quarter. Morgan Stanley now owns 45,879 shares of the biotechnology company’s stock worth $57,000 after acquiring an additional 41,530 shares in the last quarter.

Zosano Pharma Company Profile (Get Rating)

Zosano Pharma Corporation, a clinical stage biopharmaceutical company, focuses on providing therapeutics and other bioactive molecules to patients suffering from migraine using its transdermal microneedle system. Its lead product candidate is Qtrypta (M207), a proprietary formulation of zolmitriptan used for the acute treatment of migraine.

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