Quantum Biopharma (NASDAQ:QNTM) Releases Quarterly Earnings Results, Beats Expectations By $0.44 EPS

Quantum Biopharma (NASDAQ:QNTM) released its quarterly earnings data on Thursday. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.44, FiscalAI reports.

Quantum Biopharma Trading Down 8.2%

NASDAQ:QNTM traded down $0.16 during midday trading on Thursday, reaching $1.78. 278,826 shares of the stock traded hands, compared to its average volume of 91,491. Quantum Biopharma has a 12-month low of $1.71 and a 12-month high of $12.42. The business has a 50-day moving average of $2.92 and a two-hundred day moving average of $3.69.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on QNTM shares. Weiss Ratings downgraded shares of Quantum Biopharma from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, November 2nd. Wall Street Zen upgraded Quantum Biopharma from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Rodman & Renshaw began coverage on Quantum Biopharma in a research report on Monday, August 31st. They set a “buy” rating and a $8.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Quantum Biopharma has an average rating of “Hold” and a consensus target price of $8.00.

Quantum Biopharma Company Profile

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.