Zosano Pharma Corporation (NASDAQ:ZSAN) Cut to Strong Sell at ValuEngine

Zosano Pharma Corporation (NASDAQ:ZSAN) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Monday, July 24th.

Shares of Zosano Pharma Corporation (NASDAQ ZSAN) traded down 9.57% during midday trading on Monday, hitting $0.85. 1,362,502 shares of the company were exchanged. Zosano Pharma Corporation has a one year low of $0.45 and a one year high of $3.54. The company’s market capitalization is $33.32 million. The company has a 50-day moving average of $1.28 and a 200 day moving average of $1.58.

Zosano Pharma Corporation (NASDAQ:ZSAN) last posted its quarterly earnings data on Thursday, August 10th. The biotechnology company reported ($0.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.02. During the same period last year, the company earned ($0.54) EPS. On average, equities research analysts expect that Zosano Pharma Corporation will post ($0.97) earnings per share for the current fiscal year.

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In other Zosano Pharma Corporation news, CFO Georgia Erbez bought 68,000 shares of the stock in a transaction on Thursday, May 25th. The stock was purchased at an average price of $1.32 per share, with a total value of $89,760.00. Following the completion of the purchase, the chief financial officer now owns 115,750 shares in the company, valued at $152,790. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John Peter Walker bought 73,716 shares of the stock in a transaction on Thursday, May 25th. The shares were acquired at an average cost of $1.36 per share, with a total value of $100,253.76. Following the purchase, the chief executive officer now owns 169,344 shares of the company’s stock, valued at approximately $230,307.84. The disclosure for this purchase can be found here. Corporate insiders own 2.95% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ZSAN. Northern Trust Corp increased its position in shares of Zosano Pharma Corporation by 591.4% in the second quarter. Northern Trust Corp now owns 79,234 shares of the biotechnology company’s stock valued at $112,000 after buying an additional 67,774 shares during the last quarter. Granite Point Capital Management L.P. acquired a new position in shares of Zosano Pharma Corporation during the first quarter valued at approximately $285,000. Victory Capital Management Inc. acquired a new position in shares of Zosano Pharma Corporation during the first quarter valued at approximately $449,000. Nexthera Capital LP acquired a new position in shares of Zosano Pharma Corporation during the first quarter valued at approximately $950,000. Finally, Perceptive Advisors LLC acquired a new position in shares of Zosano Pharma Corporation during the first quarter valued at approximately $950,000. 24.03% of the stock is owned by hedge funds and other institutional investors.

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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