Quince Therapeutics (NASDAQ:QNCX) Coverage Initiated by Analysts at Raymond James Financial

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

A number of other equities research analysts have also weighed in on QNCX. Zacks Research upgraded shares of Quince Therapeutics to a “hold” rating in a report on Thursday, October 1st. Citigroup reissued a “market outperform” rating on shares of Quince Therapeutics in a report on Tuesday, September 29th. Rodman & Renshaw started coverage on Quince Therapeutics in a research note on Thursday, September 24th. They issued a “buy” rating and a $70.00 price target on the stock. Craig Hallum raised Quince Therapeutics to a “strong-buy” rating in a report on Thursday, August 27th. Finally, Wall Street Zen cut Quince Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Quince Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $189.88.

Quince Therapeutics Stock Performance

QNCX stock opened at $29.36 on Friday. The company’s 50 day moving average price is $30.40 and its 200 day moving average price is $24.62. Quince Therapeutics has a fifty-two week low of $15.10 and a fifty-two week high of $909.98. The firm has a market capitalization of $29.95 million, a price-to-earnings ratio of -0.19 and a beta of 1.33.

Quince Therapeutics (NASDAQ:QNCX) last issued its earnings results on Friday, August 14th. The company reported ($12.31) earnings per share for the quarter, beating the consensus estimate of ($28.02) by $15.71. Equities 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 position in Quince Therapeutics stock. BlackRock Inc. acquired a new position in shares of Quince Therapeutics, Inc. (NASDAQ:QNCX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,702 shares of the company’s stock, valued at approximately $31,000. BlackRock Inc. owned about 0.17% of Quince Therapeutics as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 30.75% of the company’s stock.

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.