Zacks: Analysts Set $4.00 Target Price for Zosano Pharma Corp (ZSAN)

Shares of Zosano Pharma Corp (NASDAQ:ZSAN) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.

Brokerages have set a 12-month consensus price objective of $4.00 for the company and are forecasting that the company will post ($0.24) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Zosano Pharma an industry rank of 161 out of 265 based on the ratings given to related companies.

Separately, ValuEngine upgraded shares of Zosano Pharma from a “strong sell” rating to a “sell” rating in a research note on Sunday, December 31st.

Zosano Pharma (NASDAQ:ZSAN) traded down $0.05 during mid-day trading on Friday, hitting $0.53. 583,931 shares of the company were exchanged, compared to its average volume of 648,331. Zosano Pharma has a 12-month low of $0.50 and a 12-month high of $3.54. The stock has a market capitalization of $20.72 and a price-to-earnings ratio of -0.44.

Zosano Pharma (NASDAQ:ZSAN) last released its earnings results on Thursday, November 9th. The biotechnology company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.05). equities analysts predict that Zosano Pharma will post -0.9 earnings per share for the current year.

In related news, Director Kenneth Greathouse purchased 50,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were bought at an average cost of $0.62 per share, for a total transaction of $31,000.00. Following the completion of the purchase, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $21,700. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 200,000 shares of company stock worth $123,450 over the last quarter. 2.95% of the stock is currently owned by insiders.

An institutional investor recently raised its position in Zosano Pharma stock. Northern Trust Corp raised its stake in Zosano Pharma Corp (NASDAQ:ZSAN) by 591.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,234 shares of the biotechnology company’s stock after purchasing an additional 67,774 shares during the period. Northern Trust Corp owned 0.20% of Zosano Pharma worth $112,000 as of its most recent SEC filing. 19.41% of the stock is currently owned by hedge funds and other institutional investors.

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Zosano Pharma Company Profile

Zosano Pharma Corporation is a clinical-stage specialty pharmaceutical company. The Company has developed a transdermal microneedle patch system to deliver its formulations of existing drugs through the skin for the treatment of a range of indications. Its microneedle patch system offers consistent drug delivery and improved ease of use and room-temperature stability.

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