Zosano Pharma Corporation (ZSAN) Shares Down 5.1% Following Weak Earnings
Zosano Pharma Corporation (NASDAQ:ZSAN)’s share price was down 5.1% during mid-day trading on Thursday following a dissappointing earnings announcement. The company traded as low as $0.93 and last traded at $0.94, with a volume of 609,833 shares changing hands. The stock had previously closed at $0.99.
The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by $0.02. During the same period in the prior year, the company posted ($0.54) EPS.
Separately, ValuEngine upgraded shares of Zosano Pharma Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $2.58.
In other Zosano Pharma Corporation news, CEO John Peter Walker bought 73,716 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were acquired at an average cost of $1.36 per share, for a total transaction of $100,253.76. Following the transaction, the chief executive officer now owns 169,344 shares in the company, valued at $230,307.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Georgia Erbez bought 68,000 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were acquired at an average price of $1.32 per share, for a total transaction of $89,760.00. Following the completion of the transaction, the chief financial officer now owns 115,750 shares in the company, valued at approximately $152,790. The disclosure for this purchase can be found here. Insiders own 2.95% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Granite Point Capital Management L.P. acquired a new stake in shares of Zosano Pharma Corporation during the first quarter valued at $285,000. Victory Capital Management Inc. acquired a new stake in shares of Zosano Pharma Corporation during the first quarter valued at $449,000. Nexthera Capital LP acquired a new stake in shares of Zosano Pharma Corporation during the first quarter valued at $950,000. Perceptive Advisors LLC acquired a new stake in shares of Zosano Pharma Corporation during the first quarter valued at $950,000. Finally, Endurant Capital Management LP acquired a new stake in shares of Zosano Pharma Corporation during the first quarter valued at $1,135,000. Institutional investors and hedge funds own 24.03% of the company’s stock.
The firm’s 50 day moving average is $1.30 and its 200 day moving average is $1.58. The firm’s market cap is $36.85 million.
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Zosano Pharma Corporation 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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