Zenas BioPharma (NASDAQ:ZBIO) Earns "Outperform" Rating from Wedbush

Key Points

• Wedbush reaffirmed its “outperform” rating on Zenas BioPharma and set a $45 price target, implying approximately 68% upside from the stock’s $26.76 opening price.
• Analyst sentiment is broadly positive, with six Buy ratings, two Holds, and one Sell; the consensus rating is “Moderate Buy” with an average price target of $45.71.
• Zenas reported a weaker-than-expected quarter, posting a $1.77 per-share loss versus the $1.12 expected loss and revenue of $1 million versus the $15 million consensus estimate.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report)'s stock had its "outperform" rating reissued by equities research analysts at Wedbush in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $45.00 target price on the stock. Wedbush's price target points to a potential upside of 68.16% from the company's current price.

ZBIO has been the topic of several other research reports. Guggenheim restated a "buy" rating and issued a $55.00 price objective on shares of Zenas BioPharma in a research report on Wednesday. Morgan Stanley lifted their target price on shares of Zenas BioPharma from $22.00 to $32.00 and gave the company an "equal weight" rating in a report on Friday, August 14th. HC Wainwright reiterated a "buy" rating and issued a $44.00 target price on shares of Zenas BioPharma in a research note on Wednesday. Citigroup reissued a "buy" rating on shares of Zenas BioPharma in a report on Wednesday, June 3rd. Finally, Wall Street Zen upgraded shares of Zenas BioPharma from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 27th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $45.71.

Zenas BioPharma Stock Down 2.9%

ZBIO stock opened at $26.76 on Wednesday. The company has a market capitalization of $1.74 billion, a P/E ratio of -2.98 and a beta of -1.04. Zenas BioPharma has a 12 month low of $13.50 and a 12 month high of $44.60. The firm's fifty day simple moving average is $31.47 and its 200-day simple moving average is $25.08. The company has a debt-to-equity ratio of 1.57, a current ratio of 9.93 and a quick ratio of 9.93.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($1.77) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.65). The business had revenue of $1.00 million for the quarter, compared to the consensus estimate of $15.00 million. As a group, equities research analysts forecast that Zenas BioPharma will post -5.81 earnings per share for the current year.

Institutional Trading of Zenas BioPharma

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Zenas BioPharma during the 2nd quarter valued at approximately $68,176,000. Wellington Management Group LLP increased its holdings in Zenas BioPharma by 27.9% in the 2nd quarter. Wellington Management Group LLP now owns 1,593,819 shares of the company's stock worth $40,451,000 after acquiring an additional 347,766 shares in the last quarter. Polar Capital Holdings Plc acquired a new position in Zenas BioPharma during the fourth quarter worth $38,402,000. Bank of America Corp DE purchased a new position in Zenas BioPharma during the second quarter valued at $31,247,000. Finally, EcoR1 Capital LLC purchased a new position in Zenas BioPharma during the fourth quarter valued at $28,667,000.

Zenas BioPharma Company Profile

Zenas BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for patients with immune-mediated diseases. The company's research and development efforts are centered on therapies that modulate the immune system and address conditions with significant unmet medical needs.

Zenas' lead investigational product is obexelimab, an immune-modulating monoclonal antibody designed to inhibit the activity of certain B cells without broadly depleting them. The company is evaluating obexelimab in autoimmune and inflammatory diseases, including IgG4-related disease and systemic lupus erythematosus.