ZEALAND PHARMA/S (NASDAQ:ZEAL)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research note issued to investors on Thursday, The Fly reports. They presently have a $32.00 target price on the stock, up from their prior target price of $29.00. Needham & Company LLC’s target price indicates a potential upside of 47.81% from the stock’s current price.
Separately, Zacks Investment Research cut shares of ZEALAND PHARMA/S from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $27.00.
Shares of NASDAQ:ZEAL traded down $0.45 on Thursday, hitting $21.65. The company had a trading volume of 900 shares, compared to its average volume of 11,012. The stock’s 50-day moving average is $22.16. ZEALAND PHARMA/S has a 1 year low of $11.51 and a 1 year high of $23.55. The company has a market cap of $683.78 million, a price-to-earnings ratio of 7.22 and a beta of 1.91.
A hedge fund recently raised its stake in ZEALAND PHARMA/S stock. Farallon Capital Management LLC grew its position in ZEALAND PHARMA/S (NASDAQ:ZEAL) by 5.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,000,000 shares of the company’s stock after buying an additional 51,300 shares during the period. Farallon Capital Management LLC owned approximately 3.25% of ZEALAND PHARMA/S worth $21,550,000 as of its most recent SEC filing. 9.08% of the stock is currently owned by hedge funds and other institutional investors.
About ZEALAND PHARMA/S
Zealand Pharma A/S, a biotechnology company, engages in the discovery, design, and development of peptide therapeutics-based medicines in Denmark. It has a portfolio of proprietary medicines in late-stage clinical development focusing on gastrointestinal and metabolic diseases. The company markets lixisenatide for the treatment of type 2 diabetes under the brand names of Adlyxin and Lyxumia; and a combination of lixisenatide and insulin glargine for the treatment of type 2 diabetes under the brand names of Soliqua 100/33 and Suliqua.
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