Citizens Jmp Initiates Coverage on Quince Therapeutics (NASDAQ:QNCX)

Key Points

• Citizens Jmp has initiated coverage on Quince Therapeutics (NASDAQ:QNCX) with an "outperform" rating and a price target of $9.00, indicating potential upside of 452.15% from its current price.
• Quince Therapeutics reported earnings of (\$0.34) per share, missing expectations of (\$0.24), and is projected to post an EPS of (\$1.21) for the current fiscal year.
• Analysts have varied opinions on Quince Therapeutics, with one sell rating, six buy ratings, and a consensus price target of $8.17.

Analysts at Citizens Jmp assumed coverage on shares of Quince Therapeutics (NASDAQ:QNCX - Get Free Report) in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage set a "strong-buy" rating and a $9.00 price target on the stock. Citizens Jmp's price target would suggest a potential upside of 462.50% from the company's current price.

A number of other brokerages have also recently issued reports on QNCX. D. Boral Capital reiterated a "buy" rating and set a $4.00 target price on shares of Quince Therapeutics in a research report on Thursday, July 17th. Wall Street Zen lowered Quince Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, seven have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Quince Therapeutics has a consensus rating of "Buy" and a consensus target price of $8.29.

Quince Therapeutics Price Performance

Shares of QNCX traded down $0.05 during mid-day trading on Tuesday, reaching $1.60. The company had a trading volume of 186,233 shares, compared to its average volume of 236,190. Quince Therapeutics has a twelve month low of $0.51 and a twelve month high of $2.45. The company has a debt-to-equity ratio of 0.82, a current ratio of 4.05 and a quick ratio of 4.05. The company's 50-day moving average is $1.55 and its 200-day moving average is $1.36. The company has a market capitalization of $85.80 million, a P/E ratio of -1.15 and a beta of 1.02.

Quince Therapeutics (NASDAQ:QNCX - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.10). On average, equities analysts anticipate that Quince Therapeutics will post -1.21 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Two Sigma Investments LP bought a new position in shares of Quince Therapeutics in the 4th quarter valued at about $57,000. Virtu Financial LLC boosted its position in shares of Quince Therapeutics by 48.4% in the 1st quarter. Virtu Financial LLC now owns 43,332 shares of the company's stock worth $58,000 after purchasing an additional 14,128 shares during the last quarter. Northern Trust Corp boosted its position in shares of Quince Therapeutics by 48.5% in the 4th quarter. Northern Trust Corp now owns 50,524 shares of the company's stock worth $94,000 after purchasing an additional 16,501 shares during the last quarter. Intellectus Partners LLC bought a new position in shares of Quince Therapeutics in the 1st quarter worth $71,000. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Quince Therapeutics in the 2nd quarter worth $280,000. 30.75% of the stock is currently owned by institutional investors.

Quince Therapeutics Company Profile

Quince Therapeutics, Inc, a biopharmaceutical company, focuses on acquiring, developing, and commercializing therapeutics for patients with debilitating and rare diseases. The company's lead asset candidature comprises EryDex for the treatment of rare pediatric neurodegenerative disease, including A-T, an inherited autosomal recessive neurodegenerative and immunodeficiency disorder caused by mutations in ATM gene.