Maze Therapeutics (NASDAQ:MAZE) Receives Outperform Rating from Wedbush

Key Points

• Wedbush reiterated an “Outperform” rating on Maze Therapeutics and set a $48 price target, implying 69.13% upside from the prior close.
• Analyst sentiment is broadly positive, with the stock holding an average “Buy” rating and a consensus price target of $64.89, despite some “Sell” recommendations.
• Maze reported quarterly EPS of -$0.76 in line with estimates, while insiders have recently sold shares and institutional investors—including Frazier Life Sciences and BlackRock—have increased or initiated positions.

Maze Therapeutics (NASDAQ:MAZE - Get Free Report)'s stock had its "outperform" rating restated by equities researchers at Wedbush in a research note issued on Wednesday, Benzinga reports. They presently have a $48.00 target price on the stock. Wedbush's price objective would indicate a potential upside of 69.13% from the company's previous close.

A number of other equities research analysts have also recently commented on MAZE. Weiss Ratings reiterated a "sell (d-)" rating on shares of Maze Therapeutics in a research report on Monday. Citigroup assumed coverage on shares of Maze Therapeutics in a research note on Wednesday. They set a "buy" rating for the company. TD Cowen raised shares of Maze Therapeutics to a "strong-buy" rating in a research note on Monday, August 24th. Wall Street Zen cut Maze Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Finally, BTIG Research reaffirmed a "buy" rating and issued a $46.00 price target on shares of Maze Therapeutics in a report on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Maze Therapeutics currently has an average rating of "Buy" and an average target price of $64.89.

Maze Therapeutics Stock Up 26.8%

Shares of NASDAQ MAZE opened at $28.38 on Wednesday. The company's 50-day simple moving average is $27.21 and its 200-day simple moving average is $29.30. Maze Therapeutics has a 52-week low of $21.95 and a 52-week high of $53.65. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of -11.26 and a beta of 2.17. The company has a quick ratio of 18.31, a current ratio of 18.31 and a debt-to-equity ratio of 0.09.

Maze Therapeutics (NASDAQ:MAZE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.76) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.76). Equities analysts predict that Maze Therapeutics will post -2.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CMO Harold Bernstein sold 16,142 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $27.61, for a total value of $445,680.62. Following the completion of the sale, the chief marketing officer owned 16,142 shares of the company's stock, valued at $445,680.62. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Atul Dandekar sold 7,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $27.34, for a total transaction of $205,050.00. Following the sale, the insider owned 26,250 shares of the company's stock, valued at $717,675. This represents a 22.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 191,459 shares of company stock valued at $5,263,539 over the last ninety days. Company insiders own 5.30% of the company's stock.

Institutional Trading of Maze Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of MAZE. Frazier Life Sciences Management L.P. boosted its position in shares of Maze Therapeutics by 10.2% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 5,032,915 shares of the company's stock worth $150,182,000 after purchasing an additional 465,641 shares during the period. TRV GP IV LLC acquired a new stake in shares of Maze Therapeutics in the second quarter valued at $133,502,907. ARCH Venture Management LLC purchased a new stake in shares of Maze Therapeutics in the 2nd quarter valued at $122,983,582. BlackRock Inc. acquired a new position in Maze Therapeutics during the 2nd quarter worth about $104,525,000. Finally, Jupiter Topco LLC acquired a new position in Maze Therapeutics during the 2nd quarter worth about $101,764,000.

Maze Therapeutics Company Profile

Maze Therapeutics is a clinical-stage biopharmaceutical company focused on developing precision medicines for genetically driven diseases. The company combines human genetics, functional genomics and drug discovery technologies through its Maze Compass platform to identify disease mechanisms and develop therapies designed to address the underlying causes of disease.

Maze's lead program, MZE001, is an oral small-molecule inhibitor of glycogen synthase being developed for Pompe disease, a rare inherited disorder in which glycogen accumulates in muscles and other tissues.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.