Zentalis Pharmaceuticals (NASDAQ:ZNTL) Coverage Initiated by Analysts at Wells Fargo & Company

Key Points

• Wells Fargo initiated coverage of Zentalis Pharmaceuticals with an “equal weight” rating and a $5.00 price target, implying approximately 90% upside from the reported $2.62 share price.
• Analyst sentiment is mixed: Zentalis has a consensus “Hold” rating and an average price target of $6.75, with five Buy, four Hold, and one Sell rating.
• The clinical-stage biotechnology company recently reported a larger-than-expected quarterly loss of $0.59 per share and is developing azenosertib, an oral WEE1 kinase inhibitor for several cancers.

Equities researchers at Wells Fargo & Company began coverage on shares of Zentalis Pharmaceuticals (NASDAQ:ZNTL - Get Free Report) in a research report issued to clients and investors on Wednesday. The firm set an "equal weight" rating and a $5.00 price target on the stock. Wells Fargo & Company's target price points to a potential upside of 90.48% from the company's current price.

A number of other equities research analysts have also recently issued reports on the company. Rodman & Renshaw started coverage on Zentalis Pharmaceuticals in a research note on Thursday, July 23rd. They set a "buy" rating and a $11.00 price objective on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Zentalis Pharmaceuticals in a report on Monday, July 6th. William Blair initiated coverage on shares of Zentalis Pharmaceuticals in a research note on Wednesday, September 16th. They issued an "outperform" rating for the company. Wall Street Zen lowered Zentalis Pharmaceuticals from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 8th. Finally, Mizuho assumed coverage on Zentalis Pharmaceuticals in a research note on Friday, July 17th. They issued an "outperform" rating and a $8.00 price target on the stock. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Zentalis Pharmaceuticals has an average rating of "Hold" and a consensus target price of $6.75.

Zentalis Pharmaceuticals Stock Performance

Zentalis Pharmaceuticals stock traded down $0.09 during mid-day trading on Wednesday, reaching $2.62. The company's stock had a trading volume of 48,418 shares, compared to its average volume of 1,554,086. Zentalis Pharmaceuticals has a 12 month low of $1.21 and a 12 month high of $6.95. The business's 50 day simple moving average is $3.85 and its 200 day simple moving average is $3.87. The company has a market capitalization of $188.14 million, a price-to-earnings ratio of -1.35 and a beta of 1.85.

Zentalis Pharmaceuticals (NASDAQ:ZNTL - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.59) EPS for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.10). As a group, sell-side analysts expect that Zentalis Pharmaceuticals will post -2.11 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Group Walters bought 4,335,000 shares of the business's stock in a transaction dated Friday, August 14th. The stock was purchased at an average cost of $3.50 per share, for a total transaction of $15,172,500.00. Following the transaction, the insider owned 17,844,973 shares in the company, valued at $62,457,405.50. The trade was a 32.09% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zentalis Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sivia Capital Partners LLC acquired a new position in Zentalis Pharmaceuticals during the fourth quarter valued at approximately $27,000. CTC Alternative Strategies Ltd. bought a new position in shares of Zentalis Pharmaceuticals in the 1st quarter valued at $29,000. Spark Investment Management LLC acquired a new position in shares of Zentalis Pharmaceuticals during the 2nd quarter worth $61,000. State of Wyoming acquired a new position in shares of Zentalis Pharmaceuticals during the 1st quarter worth $67,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Zentalis Pharmaceuticals during the 2nd quarter worth $69,000.

About Zentalis Pharmaceuticals

Zentalis Pharmaceuticals, Inc NASDAQ: ZNTL is a clinical-stage biopharmaceutical company focused on discovering and developing small-molecule medicines for the treatment of cancer. The company's research programs are designed to address biological mechanisms involved in tumor growth, resistance to treatment and disease progression.

Zentalis' lead product candidate is azenosertib, formerly known as ZN-c3, an oral, selective WEE1 kinase inhibitor. The company is evaluating azenosertib in clinical studies involving solid tumors and hematologic malignancies, including ovarian cancer, uterine serous carcinoma and other cancers.

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