Zosano Pharma (ZSAN) Receives a Buy from Maxim Group

Maxim Group analyst Anthony Vendetti maintained a Buy rating on Zosano Pharma (ZSANResearch Report) yesterday and set a price target of $8. The company’s shares opened today at $3.12.

Vendetti wrote:

“Market close, ZSAN reported a wider-than-expected GAAP loss per share on higher operating expenses. Qtrypta NDA filing still on track for late 4Q19. Cash position bolstered by net proceeds of $18.4M from an April 11, 2019, common stock offering.”

According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 3.9% and a 48.2% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Ellex Medical Lasers Limited, Restoration Robotics Inc, and Xtant Medical Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Zosano Pharma with a $13 average price target.

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Based on Zosano Pharma’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $10.15 million. In comparison, last year the company had a GAAP net loss of $8.21 million.

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Zosano Pharma Corp. is a clinical stage pharmaceutical company, which engages in the provision of systemic administration of therapeutics to patients. It offers Qtrypta, a drug used orally and nasally to effectively and safely treat acute migraine. The company was founded in January 2012 and is headquartered in Fremont, CA.

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