Chardan Capital Reiterates Buy Rating for Zura Bio (NASDAQ:ZURA)

Key Points

• Chardan Capital has reiterated a "buy" rating for Zura Bio (NASDAQ:ZURA) with a price target of $10.00, indicating a potential upside of 234.45% from its previous close.
• While Chardan maintains a positive outlook, other analysts have cut their price targets, with HC Wainwright lowering it to $2.00 and Oppenheimer to $16.00, reflecting mixed sentiments in the market.
• Zura Bio's recent earnings report showed an EPS of ($0.17), surpassing expectations, and the company is focused on developing novel medicines for immune disorders, including those currently in Phase 2 clinical trials.

Zura Bio (NASDAQ:ZURA - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Chardan Capital in a research report issued on Tuesday,Benzinga reports. They presently have a $10.00 price objective on the stock. Chardan Capital's price target suggests a potential upside of 234.45% from the stock's previous close.

Several other equities analysts also recently issued reports on ZURA. HC Wainwright cut their price objective on shares of Zura Bio from $3.00 to $2.00 and set a "neutral" rating on the stock in a report on Tuesday, August 19th. Oppenheimer decreased their target price on Zura Bio from $17.00 to $16.00 and set an "outperform" rating for the company in a report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $11.60.

Zura Bio Stock Performance

Shares of ZURA stock opened at $2.99 on Tuesday. Zura Bio has a fifty-two week low of $0.97 and a fifty-two week high of $5.07. The firm has a market capitalization of $194.41 million, a price-to-earnings ratio of -4.27 and a beta of -0.02. The stock's 50-day simple moving average is $1.87 and its 200-day simple moving average is $1.46.

Zura Bio (NASDAQ:ZURA - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.02. As a group, equities analysts forecast that Zura Bio will post -0.65 earnings per share for the current year.

Institutional Investors Weigh In On Zura Bio

Hedge funds have recently bought and sold shares of the stock. Two Sigma Advisers LP purchased a new stake in Zura Bio in the 4th quarter worth approximately $32,000. Savant Capital LLC boosted its position in Zura Bio by 190.4% in the 2nd quarter. Savant Capital LLC now owns 32,409 shares of the company's stock worth $34,000 after purchasing an additional 21,249 shares in the last quarter. ProShare Advisors LLC purchased a new stake in Zura Bio in the 4th quarter worth approximately $35,000. AQR Capital Management LLC purchased a new stake in Zura Bio in the 1st quarter worth approximately $72,000. Finally, Nuveen LLC purchased a new stake in Zura Bio in the 1st quarter worth approximately $76,000. Hedge funds and other institutional investors own 61.14% of the company's stock.

About Zura Bio

Zura Bio Limited, a clinical-stage biotechnology company, focuses on developing novel medicines for immune and inflammatory disorders. It develops Tibulizumab, an IgG-scFv bispecific dual-antagonist antibody engineered by the fusion of ixekizumab and tabalumab that neutralizes IL-17A and BAFF, which is in Phase 2 clinical trial development; ZB-168, a monoclonal antibody that binds and neutralizes the IL-7 receptor chain that impact on diseases driven by IL7 and thymic stromal lymphopoietin immune pathways; and Torudokimab, a monoclonal antibody that neutralizes IL33, which is in Phase 2 clinical trial development.

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