Ziopharm Oncology Inc. (NASDAQ:ZIOP) shares dropped 2% on Thursday . The stock traded as low as $5.26 and last traded at $5.31, with a volume of 682,984 shares traded. The stock had previously closed at $5.42.

ZIOP has been the subject of several research analyst reports. Wells Fargo & Co. upgraded shares of Ziopharm Oncology from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 10th. Zacks Investment Research upgraded shares of Ziopharm Oncology from a “hold” rating to a “buy” rating and set a $6.50 target price for the company in a research report on Tuesday, August 16th. Griffin Securities reiterated a “buy” rating and set a $21.00 target price on shares of Ziopharm Oncology in a research report on Monday, August 15th. Raymond James Financial Inc. started coverage on shares of Ziopharm Oncology in a research report on Thursday, June 2nd. They set a “market perform” rating for the company. Finally, Mizuho reiterated a “neutral” rating and set a $5.00 target price (down previously from $7.00) on shares of Ziopharm Oncology in a research report on Monday, July 18th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $9.75.

The stock’s market capitalization is $674.66 million. The stock’s 50-day moving average is $5.30 and its 200 day moving average is $6.76.

Ziopharm Oncology (NASDAQ:ZIOP) last posted its quarterly earnings results on Tuesday, August 9th. The biotechnology company reported ($1.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $0.90. The company had revenue of $1.70 million for the quarter, compared to analyst estimates of $1.52 million. During the same quarter last year, the company earned ($0.11) EPS. The company’s quarterly revenue was up 525.0% compared to the same quarter last year. On average, equities research analysts expect that Ziopharm Oncology Inc. will post ($1.34) earnings per share for the current fiscal year.

An institutional investor recently raised its position in Ziopharm Oncology stock. Morgan Stanley increased its position in shares of Ziopharm Oncology Inc. (NASDAQ:ZIOP) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,618,205 shares of the biotechnology company’s stock after buying an additional 78,583 shares during the period. Morgan Stanley owned 1.25% of Ziopharm Oncology worth $13,447,000 at the end of the most recent reporting period.

ZIOPHARM Oncology, Inc is a biopharmaceutical company. The Company is seeking to acquire, develop and commercialize, on its own or with partners, a portfolio of cancer therapies through synthetic immuno-oncology. Its clinical-stage product candidate, Ad-RTS-IL-12, is used with the oral activator veledimex.

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