ZEALAND PHARMA’s (NASDAQ:ZEAL) quiet period will expire on Monday, September 18th. ZEALAND PHARMA had issued 4,375,000 shares in its initial public offering on August 9th. The total size of the offering was $78,181,250 based on an initial share price of $17.87. During ZEALAND PHARMA’s quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
A number of equities research analysts recently issued reports on the company. Morgan Stanley assumed coverage on ZEALAND PHARMA in a research report on Tuesday, September 5th. They issued an “overweight” rating and a $28.00 target price on the stock. Needham & Company LLC initiated coverage on ZEALAND PHARMA in a research report on Tuesday, September 5th. They set a “buy” rating and a $26.00 price target on the stock. Finally, Guggenheim initiated coverage on ZEALAND PHARMA in a research report on Tuesday, September 5th. They set a “buy” rating and a $28.00 price target on the stock.
ZEALAND PHARMA (ZEAL) opened at 20.03 on Wednesday. The firm’s market cap is $615.32 million. ZEALAND PHARMA has a 52-week low of $16.07 and a 52-week high of $20.37. The firm’s 50 day moving average price is $18.38 and its 200 day moving average price is $18.38.
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