Zalicus (NASDAQ: ZLCS)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Wednesday. They currently have a $1.00 target price on the stock.
Zacks‘ analyst wrote, ” Zalicus Stock is starting to look very interesting at this level. The stock has been basing nicely between $0.60 and $0.80 as traders no doubt are waiting for the big phase 2 data on potential blockbuster drug Z160 coming in the fourth quarter 2013. But now might be the time value biotech investors take a look at the stock. The currently market capitalization is only $82 million. That’s less than 5X our projected 2013 revenues of $17.0 million, and 45% of the market capitalization is supported by the cash balance. With Z160 a potential blockbuster and the top-line supporting the stock at today’s price, Zalicus could be poised for a big second half of the year. Our rating is Neutral’, but currently under-review.”
Zalicus traded up 1.56% on Wednesday, hitting $0.65. Zalicus has a 52-week low of $0.43 and a 52-week high of $1.62. The stock’s 50-day moving average is currently $0.68. The company’s market cap is $82.3 million.
Zalicus last announced its earnings results on Wednesday, March 6th. The company reported ($0.06) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.08) by $0.02. The company had revenue of $3.67 million for the quarter, compared to the consensus estimate of $3.12 million. Analysts expect that Zalicus will post $-0.31 EPS for the current fiscal year.
A number of other firms have also recently commented on ZLCS. Analysts at Oppenheimer reiterated an “outperform” rating on shares of Zalicus in a research note to investors on Wednesday. They now have a $2.00 price target on the stock. Analysts at Piper Jaffray initiated coverage on shares of Zalicus in a research note to investors on Thursday, January 3rd. They set a “neutral” rating on the stock.
Zalicus Inc., formerly CombinatoRx, Incorporated, is a biopharmaceutical company engaged in developing drug candidates with a focus on the treatment of pain and inflammation.
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