Zenas BioPharma (NASDAQ:ZBIO) Now Covered by Morgan Stanley

Key Points

• Morgan Stanley initiated coverage of Zenas BioPharma with an “equal weight” rating and a $32 price target, implying approximately 14% upside from the prior close.
• Analyst sentiment is broadly positive but varied: Zenas has a consensus “Moderate Buy” rating and an average target of $46.71, based on six Buy, two Hold, and one Sell rating.
• Zenas shares rose 13% to $28.07, while the company’s latest quarterly results missed expectations, reporting a $1.77 per-share loss and $1 million in revenue versus estimates of a $1.12 loss and $15 million in revenue.

Investment analysts at Morgan Stanley assumed coverage on shares of Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) in a research note issued on Tuesday. The firm set an "equal weight" rating and a $32.00 price target on the stock. Morgan Stanley's price target indicates a potential upside of 13.98% from the stock's previous close.

ZBIO has been the subject of several other research reports. Guggenheim reaffirmed a "buy" rating and set a $55.00 price objective on shares of Zenas BioPharma in a research report on Wednesday, September 30th. 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. Weiss Ratings reiterated a "sell (e+)" rating on shares of Zenas BioPharma in a research report on Tuesday, October 6th. Wedbush reissued an "outperform" rating and set a $45.00 target price on shares of Zenas BioPharma in a research note on Wednesday, September 30th. Finally, Citigroup raised their price target on shares of Zenas BioPharma from $41.00 to $48.00 and gave the stock a "buy" rating in a report on Wednesday, September 30th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Zenas BioPharma presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.71.

Zenas BioPharma Trading Up 13.0%

Shares of Zenas BioPharma stock traded up $3.23 on Tuesday, hitting $28.07. 10,220 shares of the company's stock traded hands, compared to its average volume of 809,270. Zenas BioPharma has a one year low of $13.50 and a one year high of $44.60. The company has a debt-to-equity ratio of 1.57, a current ratio of 9.93 and a quick ratio of 9.93. The company has a fifty day moving average of $30.05 and a two-hundred day moving average of $25.55. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -3.11 and a beta of -0.90.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($1.77) earnings per share for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.65). The business had revenue of $1.00 million during the quarter, compared to analyst estimates of $15.00 million. As a group, sell-side analysts expect that Zenas BioPharma will post -5.81 earnings per share for the current year.

Institutional Investors Weigh In On Zenas BioPharma

Institutional investors and hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP acquired a new position in Zenas BioPharma during the 2nd quarter valued at about $49,000. Jupiter Topco LLC bought a new position in shares of Zenas BioPharma in the second quarter valued at approximately $201,000. The Manufacturers Life Insurance Company bought a new position in shares of Zenas BioPharma in the second quarter valued at approximately $204,000. Sei Investments Co. purchased a new position in shares of Zenas BioPharma during the first quarter valued at approximately $242,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Zenas BioPharma during the second quarter valued at approximately $329,000.

Zenas BioPharma Company Profile

Zenas BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing immune-based therapies for patients with serious autoimmune diseases. The company's research is centered on medicines designed to modulate the immune system while potentially avoiding the broad immune-cell depletion associated with some existing treatments.

Zenas' lead product candidate is obexelimab, an investigational monoclonal antibody designed to bind CD19 and FcγRIIb receptors on B cells. Through this mechanism, obexelimab is intended to inhibit B-cell activity without eliminating the cells.

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