Quince Therapeutics (NASDAQ:QNCX) Stock Picked Up by Analysts at Raymond James Financial

Equities research analysts at Raymond James Financial assumed coverage on shares of Quince Therapeutics (NASDAQ:QNCX) in a research note issued to investors on Friday, Marketbeat.com reports. The firm set an “outperform” rating and a $72.00 price target on the stock. Raymond James Financial’s price objective indicates a potential upside of 145.23% from the stock’s previous close.

Several other brokerages also recently weighed in on QNCX. Weiss Ratings upgraded shares of Quince Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, September 29th. Leerink Partners started coverage on Quince Therapeutics in a research report on Wednesday, June 24th. They issued an “outperform” rating and a $80.00 price target on the stock. Wall Street Zen downgraded Quince Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Rodman & Renshaw initiated coverage on Quince Therapeutics in a research note on Thursday, September 24th. They set a “buy” rating and a $70.00 price target for the company. Finally, Oppenheimer initiated coverage on Quince Therapeutics in a report on Wednesday, July 29th. They set an “outperform” rating and a $82.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $189.88.

Quince Therapeutics Trading Up 9.9%

Shares of QNCX opened at $29.36 on Friday. The firm has a market cap of $29.95 million, a PE ratio of -0.19 and a beta of 1.33. The company’s 50 day simple moving average is $30.40 and its 200-day simple moving average is $24.62. Quince Therapeutics has a 12-month low of $15.10 and a 12-month high of $909.98.

Quince Therapeutics (NASDAQ:QNCX) last released its quarterly earnings results on Friday, August 14th. The company reported ($12.31) EPS for the quarter, beating the consensus estimate of ($28.02) by $15.71. As a group, equities research analysts forecast that Quince Therapeutics will post -8.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Quince Therapeutics

A hedge fund recently bought a new stake in Quince Therapeutics stock. 683 Capital Management LLC bought a new position in shares of Quince Therapeutics, Inc. (NASDAQ:QNCX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 238,177 shares of the company’s stock, valued at approximately $798,000. 683 Capital Management LLC owned approximately 0.43% of Quince Therapeutics at the end of the most recent quarter. 30.75% of the stock is owned by institutional investors and hedge funds.

About Quince Therapeutics

Quince Therapeutics, Inc (NASDAQ:QNCX) is a clinical-stage biotechnology company developing therapies for rare and debilitating diseases. The company focuses on precision medicines designed to address underlying disease mechanisms and unmet medical needs in patient populations that may have limited treatment options.

Quince’s pipeline includes efzofitimod, an investigational immunomodulator being developed for pulmonary sarcoidosis, a rare inflammatory disease that can affect lung function.