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.

ILLEGAL ACTIVITY NOTICE: This report was posted by Daily Political and is the property of of Daily Political. If you are reading this report on another publication, it was copied illegally and republished in violation of US and international trademark and copyright law. The original version of this report can be viewed at https://www.dailypolitical.com/2017/08/10/zosano-pharma-corporation-zsan-shares-down-5-1-following-weak-earnings.html.

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.

Receive News & Ratings for Zosano Pharma Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zosano Pharma Corporation and related companies with MarketBeat.com's FREE daily email newsletter.