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Shares of Targacept (NASDAQ:TRGT) were down 10.3% on Wednesday after the company announced weaker than expected quarterly earnings, Analyst Ratings Network reports. The company traded as low as $3.81 and last traded at $3.84, with a volume of 167,099 shares trading hands. The stock had previously closed at $4.28.

The company reported ($0.44) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.37) by $0.07. The company had revenue of $0.09 million for the quarter, compared to the consensus estimate of $3.54 million. During the same quarter in the prior year, the company posted ($0.24) earnings per share. The company’s quarterly revenue was down 97.5% on a year-over-year basis.

The stock’s 50-day moving average is $4.49 and its 200-day moving average is $4.71. The company’s market cap is $138.7 million.

Targacept, Inc is a biopharmaceutical company. The Company is engaged in the design, discovery and development of NNR Therapeutics for the treatment of diseases and disorders of the nervous system.

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