Zosano Pharma (NASDAQ:ZSAN) Shares Gap Down to $0.53

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Zosano Pharma Corp (NASDAQ:ZSAN) shares gapped down before the market opened on Thursday . The stock had previously closed at $0.52, but opened at $0.53. Zosano Pharma shares last traded at $0.56, with a volume of 296,498 shares trading hands.

Several research firms have issued reports on ZSAN. Cantor Fitzgerald lowered their target price on shares of Zosano Pharma from $12.00 to $6.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. BTIG Research lowered their price objective on shares of Zosano Pharma to $16.00 and set an “in-line” rating on the stock in a research note on Friday, November 15th. ValuEngine cut shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research upgraded shares of Zosano Pharma from a “hold” rating to a “buy” rating and set a $2.25 price objective on the stock in a research note on Thursday, November 21st. Finally, Maxim Group reiterated a “buy” rating and issued a $8.00 price objective on shares of Zosano Pharma in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $8.06.

The company’s 50 day moving average price is $1.31 and its two-hundred day moving average price is $1.83. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.60. The stock has a market cap of $14.68 million, a P/E ratio of -0.29 and a beta of 2.61.

Zosano Pharma (NASDAQ:ZSAN) last issued its quarterly earnings data on Thursday, November 14th. The biotechnology company reported ($0.55) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.58) by $0.03. On average, sell-side analysts anticipate that Zosano Pharma Corp will post -2.08 earnings per share for the current year.

Several large investors have recently modified their holdings of ZSAN. Aisling Capital Management LP lifted its stake in shares of Zosano Pharma by 34.0% in the 4th quarter. Aisling Capital Management LP now owns 2,718,226 shares of the biotechnology company’s stock worth $4,132,000 after purchasing an additional 689,655 shares during the period. Vanguard Group Inc. lifted its stake in shares of Zosano Pharma by 118.6% in the 2nd quarter. Vanguard Group Inc. now owns 957,025 shares of the biotechnology company’s stock worth $3,129,000 after purchasing an additional 519,305 shares during the period. FNY Investment Advisers LLC bought a new position in shares of Zosano Pharma in the 3rd quarter worth approximately $234,000. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in shares of Zosano Pharma in the 4th quarter worth approximately $182,000. Finally, BlackRock Inc. lifted its stake in shares of Zosano Pharma by 17.7% in the 2nd quarter. BlackRock Inc. now owns 366,876 shares of the biotechnology company’s stock worth $1,200,000 after purchasing an additional 55,105 shares during the period. Hedge funds and other institutional investors own 32.25% of the company’s stock.

About Zosano Pharma (NASDAQ:ZSAN)

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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