Quince Therapeutics (NASDAQ:QNCX) Posts Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Key Points

• Quince Therapeutics reported a quarterly loss of ($0.34) earnings per share, missing estimates by ($0.06).
• Following the earnings report, the company's stock fell 3.0%, trading at $1.60 with a market capitalization of $85.79 million.
• Despite the miss, analysts maintain a positive outlook, with a consensus target price of $8.29, including ratings from various brokerages like Citigroup and JMP Securities.

Quince Therapeutics (NASDAQ:QNCX - Get Free Report) released its earnings results on Monday. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.06), Zacks reports.

Quince Therapeutics Stock Down 3.0%

Shares of NASDAQ:QNCX traded down $0.05 during trading on Monday, hitting $1.60. The company's stock had a trading volume of 234,972 shares, compared to its average volume of 191,987. The company has a debt-to-equity ratio of 0.82, a quick ratio of 4.05 and a current ratio of 4.05. Quince Therapeutics has a fifty-two week low of $0.51 and a fifty-two week high of $2.45. The stock's 50-day moving average price is $1.56 and its two-hundred day moving average price is $1.36. The company has a market capitalization of $85.79 million, a PE ratio of -1.15 and a beta of 1.02.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on QNCX. Citigroup began coverage on Quince Therapeutics in a research note on Tuesday, August 5th. They issued an "outperform" rating for the company. JMP Securities began coverage on Quince Therapeutics in a research note on Tuesday, August 5th. They issued a "market outperform" rating and a $9.00 target price for the company. D. Boral Capital reissued a "buy" rating and set a $4.00 target price on shares of Quince Therapeutics in a research note on Thursday, July 17th. Citizens Jmp initiated coverage on Quince Therapeutics in a research note on Tuesday, August 5th. They set a "strong-buy" rating and a $9.00 target price for the company. Finally, Wall Street Zen cut Quince Therapeutics from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One research 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 company's stock. According to MarketBeat, Quince Therapeutics has an average rating of "Buy" and a consensus target price of $8.29.

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.

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