Zosano Pharma Corp. (ZSAN) Rating Increased to Buy at Zacks Investment Research
Zosano Pharma Corp. (NASDAQ:ZSAN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The firm presently has a $0.75 target price on the stock. Zacks Investment Research’s target price would indicate a potential upside of 8.70% from the company’s current price.
According to Zacks, “Zosano Pharma Corporation is a biopharmaceutical company. It is engaged in developing a transdermal micro needle patch system to deliver formulations of existing drugs through the skin for the treatment of a variety of indications. The Company’s lead product candidates include Weekly ZP-PTH for severe osteoporosis; ZP-Glucagon for severe hypoglycemia and ZP-Triptan, for migraine. Zosano Pharma Corporation is headquartered in Fremont, California. “
Separately, Ladenburg Thalmann cut shares of Zosano Pharma Corp. from a “buy” rating to a “neutral” rating in a research report on Thursday, August 11th.
Shares of Zosano Pharma Corp. (NASDAQ:ZSAN) opened at 0.69 on Friday. The stock’s market cap is $11.60 million. The stock’s 50 day moving average price is $0.62 and its 200 day moving average price is $1.15. Zosano Pharma Corp. has a 52 week low of $0.45 and a 52 week high of $2.96.
In related news, major shareholder M James Barrett sold 50,000 shares of the stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $1.01, for a total transaction of $50,500.00. Following the sale, the insider now owns 5 shares in the company, valued at $5.05. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.37% of the company’s stock.
A hedge fund recently raised its stake in Zosano Pharma Corp. stock. Lombard Odier Asset Management USA Corp raised its stake in Zosano Pharma Corp. (NASDAQ:ZSAN) by 66.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 795,722 shares of the company’s stock after buying an additional 318,450 shares during the period. Lombard Odier Asset Management USA Corp owned approximately 6.62% of Zosano Pharma Corp. worth $615,000 as of its most recent SEC filing. 36.72% of the stock is owned by institutional investors and hedge funds.
About Zosano Pharma Corp.
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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