Quantum Biopharma (NASDAQ:QNTM) Stock Rating Raised to Hold at Wall Street Zen

Quantum Biopharma (NASDAQ:QNTM) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also recently commented on the company. Weiss Ratings cut Quantum Biopharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, November 2nd. Rodman & Renshaw initiated coverage on Quantum Biopharma in a report on Monday, August 31st. They issued a “buy” rating and a $8.00 price target for the company. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Quantum Biopharma currently has a consensus rating of “Hold” and a consensus target price of $8.00.

Quantum Biopharma Price Performance

Shares of NASDAQ QNTM opened at $1.61 on Friday. The company’s fifty day moving average price is $2.90 and its 200 day moving average price is $3.68. Quantum Biopharma has a 1 year low of $1.60 and a 1 year high of $12.42.

Quantum Biopharma (NASDAQ:QNTM) last released its quarterly earnings results on Thursday, November 12th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.44.

Hedge Funds Weigh In On Quantum Biopharma

A hedge fund recently raised its position in Quantum Biopharma stock. Steward Partners Investment Advisory LLC grew its stake in Quantum Biopharma Ltd. (NASDAQ:QNTM) by 46.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,942 shares of the company’s stock after purchasing an additional 13,061 shares during the quarter. Steward Partners Investment Advisory LLC owned approximately 0.51% of Quantum Biopharma worth $147,000 as of its most recent SEC filing. 1.24% of the stock is owned by hedge funds and other institutional investors.

About Quantum Biopharma

Quantum BioPharma Ltd. is a biotechnology company focused on developing treatments for neurodegenerative and neurological disorders. Its lead drug candidate, Lucid-21-302, also known as Lucid-MS, is an orally administered small molecule being developed as a potential therapy for multiple sclerosis. The company is investigating the compound’s ability to protect nerve cells and promote remyelination, or the repair of damaged myelin. Quantum BioPharma is also pursuing additional applications for its drug-development platform, including potential treatments for other neurodegenerative and mental health conditions.