Zenas BioPharma (NASDAQ:ZBIO) Stock Keeps Buy Rating at HC Wainwright

Key Points

• HC Wainwright reaffirmed its Buy rating on Zenas BioPharma and maintained a $44 price target, implying approximately 66.7% upside from the stock’s $26.40 opening price.
• Analyst sentiment is broadly positive: six analysts rate ZBIO a Buy, two a Hold and one a Sell, producing a “Moderate Buy” consensus rating and an average target price of $46.71.
• Zenas reported weaker-than-expected quarterly results, posting an EPS loss of $1.77 versus the $1.12 estimate and revenue of $1 million versus the $15 million consensus forecast.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at HC Wainwright in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $44.00 price target on the stock. HC Wainwright's target price would suggest a potential upside of 66.67% from the stock's current price.

ZBIO has been the subject of several other research reports. Guggenheim reiterated a "buy" rating and issued a $55.00 price objective on shares of Zenas BioPharma in a research note on Wednesday, September 30th. Weiss Ratings restated a "sell (e+)" rating on shares of Zenas BioPharma in a report on Tuesday, October 6th. Citigroup lifted their target price on shares of Zenas BioPharma from $41.00 to $48.00 and gave the stock a "buy" rating in a research report on Wednesday, September 30th. Wedbush reissued an "outperform" rating and set a $45.00 price target on shares of Zenas BioPharma in a research report on Wednesday, September 30th. Finally, Wall Street Zen raised Zenas BioPharma from a "strong sell" rating to a "sell" rating in a report on Saturday, June 27th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Zenas BioPharma has an average rating of "Moderate Buy" and a consensus target price of $46.71.

Zenas BioPharma Stock Down 3.2%

ZBIO stock opened at $26.40 on Tuesday. The stock has a market cap of $1.72 billion, a P/E ratio of -2.94 and a beta of -0.90. The company has a current ratio of 9.93, a quick ratio of 9.93 and a debt-to-equity ratio of 1.57. Zenas BioPharma has a twelve month low of $13.50 and a twelve month high of $44.60. The company's 50 day moving average is $30.71 and its two-hundred day moving average is $25.37.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($1.77) earnings per share (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. Research analysts expect that Zenas BioPharma will post -5.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zenas BioPharma

A number of hedge funds and other institutional investors have recently made changes to their positions in ZBIO. Quantbot Technologies LP acquired a new position in Zenas BioPharma in the second quarter valued at $49,000. Jupiter Topco LLC acquired a new stake in Zenas BioPharma in the 2nd quarter worth about $201,000. The Manufacturers Life Insurance Company acquired a new stake in Zenas BioPharma in the 2nd quarter worth about $204,000. Sei Investments Co. purchased a new stake in Zenas BioPharma in the 1st quarter valued at about $242,000. Finally, Engineers Gate Manager LP purchased a new stake in Zenas BioPharma in the 2nd quarter valued at about $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.