HC Wainwright Reaffirms "Buy" Rating for Zentalis Pharmaceuticals (NASDAQ:ZNTL)

Key Points

• HC Wainwright reaffirmed a “Buy” rating on Zentalis Pharmaceuticals with a $10 price target, implying 369.48% potential upside from the stock’s $2.13 opening price.
• Analyst sentiment is broadly positive, with MarketBeat reporting a “Moderate Buy” consensus rating and an average price target of $7.50, though coverage ranges from “Strong Buy” to “Strong Sell.”
• Zentalis reported a quarterly loss of $0.59 per share, missing estimates by $0.10, while major shareholder Group Walters increased its stake by 32.09% through a $15.2 million stock purchase.

Zentalis Pharmaceuticals (NASDAQ:ZNTL - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at HC Wainwright in a report released on Monday, Benzinga reports. They presently have a $10.00 price objective on the stock. HC Wainwright's target price suggests a potential upside of 369.48% from the company's current price.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company began coverage on shares of Zentalis Pharmaceuticals in a report on Wednesday, September 30th. They set an "equal weight" rating and a $5.00 price target for the company. Wall Street Zen downgraded shares of Zentalis Pharmaceuticals from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 8th. Jefferies Financial Group upgraded shares of Zentalis Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 14th. William Blair assumed coverage on shares of Zentalis Pharmaceuticals in a research report on Wednesday, September 16th. They issued an "outperform" rating for the company. Finally, Rodman & Renshaw assumed coverage on Zentalis Pharmaceuticals in a research note on Thursday, July 23rd. They set a "buy" rating and a $11.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $7.50.

Zentalis Pharmaceuticals Price Performance

Shares of NASDAQ:ZNTL opened at $2.13 on Monday. Zentalis Pharmaceuticals has a 52-week low of $1.21 and a 52-week high of $6.95. The company has a 50 day moving average of $3.30 and a two-hundred day moving average of $3.86. The company has a market capitalization of $152.66 million, a price-to-earnings ratio of -1.09 and a beta of 1.93.

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

Insider Transactions at Zentalis Pharmaceuticals

In related news, major shareholder Group Walters purchased 4,335,000 shares of the business's stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $3.50 per share, with a total value of $15,172,500.00. Following the completion of the acquisition, the insider directly owned 17,844,973 shares of the company's stock, valued at approximately $62,457,405.50. The trade was a 32.09% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zentalis Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. 5AM Venture Management LLC acquired a new position in Zentalis Pharmaceuticals in the second quarter worth about $19,147,378. BlackRock Inc. bought a new stake in Zentalis Pharmaceuticals in the second quarter valued at about $18,205,000. Bank of America Corp DE acquired a new stake in Zentalis Pharmaceuticals during the second quarter valued at approximately $5,406,000. Primecap Management Co. CA acquired a new stake in Zentalis Pharmaceuticals during the second quarter valued at approximately $4,643,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Zentalis Pharmaceuticals during the second quarter valued at approximately $3,676,000.

Zentalis Pharmaceuticals Company Profile

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 target biological pathways involved in tumor growth, survival and resistance to existing therapies.

Zentalis' lead investigational product is azenosertib, also known as ZN-c3, an oral WEE1 inhibitor being evaluated in clinical trials for several advanced cancers.