Quantum Biopharma (NASDAQ:QNTM) Issues Quarterly Earnings Results

Quantum Biopharma (NASDAQ:QNTM) posted its quarterly earnings data on Thursday. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.44, FiscalAI reports.

Quantum Biopharma Price Performance

Shares of NASDAQ QNTM traded down $0.16 during trading hours on Thursday, hitting $1.78. 278,826 shares of the stock were exchanged, compared to its average volume of 91,491. The company’s 50 day moving average is $2.92 and its 200 day moving average is $3.69. The firm has a market capitalization of $14.40 million, a P/E ratio of -0.32 and a beta of 0.51. Quantum Biopharma has a one year low of $1.71 and a one year high of $12.42.

Wall Street Analyst Weigh In

Several research firms recently commented on QNTM. Wall Street Zen upgraded shares of Quantum Biopharma from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. Rodman & Renshaw started coverage on shares of Quantum Biopharma in a research note on Monday, August 31st. They issued a “buy” rating and a $8.00 price objective on the stock. Finally, Weiss Ratings lowered shares of Quantum Biopharma from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, November 2nd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Quantum Biopharma has a consensus rating of “Hold” and a consensus price target of $8.00.

About Quantum Biopharma

Quantum BioPharma Ltd. is a biotechnology company focused on developing treatments for neurodegenerative and neurological disorders. Its lead drug candidate, Lucid-21-302, also known as Lucid-MS, is an orally administered small molecule being developed as a potential therapy for multiple sclerosis. The company is investigating the compound’s ability to protect nerve cells and promote remyelination, or the repair of damaged myelin. Quantum BioPharma is also pursuing additional applications for its drug-development platform, including potential treatments for other neurodegenerative and mental health conditions.