Zosano Pharma Corp (NASDAQ:ZSAN) Short Interest Up 6.8% in June

Zosano Pharma Corp (NASDAQ:ZSAN) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 1,435,700 shares, a growth of 6.8% from the May 15th total of 1,344,700 shares. Approximately 15.3% of the shares of the company are short sold. Based on an average daily volume of 512,100 shares, the days-to-cover ratio is presently 2.8 days.

Several brokerages have weighed in on ZSAN. Maxim Group set a $4.00 target price on Sify Technologies and gave the company a “buy” rating in a research note on Wednesday, April 17th. Zacks Investment Research downgraded Green Plains from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 27th. Cantor Fitzgerald reissued a “buy” rating on shares of Tivity Health in a research note on Monday, April 22nd. Finally, ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $8.54.

A hedge fund recently raised its stake in Zosano Pharma stock. Telemetry Investments L.L.C. grew its stake in Zosano Pharma Corp (NASDAQ:ZSAN) by 37.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 219,040 shares of the biotechnology company’s stock after buying an additional 60,069 shares during the period. Telemetry Investments L.L.C. owned approximately 1.83% of Zosano Pharma worth $464,000 as of its most recent SEC filing. 23.27% of the stock is currently owned by institutional investors.

Shares of ZSAN stock traded down $0.02 on Friday, reaching $3.24. 101,843 shares of the company’s stock traded hands, compared to its average volume of 276,510. Zosano Pharma has a 12-month low of $1.85 and a 12-month high of $6.65. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $57.42 million, a P/E ratio of -0.87 and a beta of 2.61. The company has a 50 day moving average of $3.08.

Zosano Pharma (NASDAQ:ZSAN) last issued its quarterly earnings results on Tuesday, May 14th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.01). On average, equities research analysts expect that Zosano Pharma will post -2.58 EPS for the current year.

Zosano Pharma Company Profile

Zosano Pharma Corporation, a clinical stage biopharmaceutical company, focuses on providing therapeutics to patients suffering from migraine using its Adhesive Dermally-Applied Microarray technology. Its lead product candidate is M207, a proprietary formulation of zolmitriptan used for the treatment of migraine.

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