Rodman & Renshaw Initiates Coverage on Zentalis Pharmaceuticals (NASDAQ:ZNTL)

Key Points

• Rodman & Renshaw initiated coverage on Zentalis Pharmaceuticals with a buy rating and an $11 price target, implying about 144% upside from the previous close.
• The stock was trading lower, with ZNTL down 10.2% and opening at $4.50; the company has a market cap of about $320 million and remains well below its 52-week high of $6.95.
• Analyst views remain mixed overall, with an average Hold rating and $6.75 target, while the company’s latest earnings missed expectations by a penny per share.

Investment analysts at Rodman & Renshaw began coverage on shares of Zentalis Pharmaceuticals (NASDAQ:ZNTL - Get Free Report) in a note issued to investors on Thursday. The firm set a "buy" rating and a $11.00 price target on the stock. Rodman & Renshaw's price objective indicates a potential upside of 144.44% from the company's previous close.

A number of other equities research analysts also recently commented on ZNTL. Wall Street Zen raised Zentalis Pharmaceuticals from a "strong sell" rating to a "sell" rating in a report on Sunday, May 31st. Guggenheim increased their price objective on shares of Zentalis Pharmaceuticals from $6.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, April 10th. HC Wainwright reaffirmed a "buy" rating and issued a $10.00 price target on shares of Zentalis Pharmaceuticals in a report on Friday, May 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Zentalis Pharmaceuticals in a research report on Monday, July 6th. Finally, Mizuho assumed coverage on Zentalis Pharmaceuticals in a research note on Friday, July 17th. They set an "outperform" rating and a $8.00 price objective for the company. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $6.75.

Zentalis Pharmaceuticals Stock Down 10.2%

ZNTL opened at $4.50 on Thursday. The company has a market cap of $320.36 million, a P/E ratio of -2.60 and a beta of 1.92. The firm's 50-day moving average price is $4.14 and its 200-day moving average price is $3.44. Zentalis Pharmaceuticals has a 52-week low of $1.21 and a 52-week high of $6.95.

Zentalis Pharmaceuticals (NASDAQ:ZNTL - Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.01). On average, research analysts anticipate that Zentalis Pharmaceuticals will post -1.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in Zentalis Pharmaceuticals by 31.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 723,075 shares of the company's stock valued at $1,092,000 after buying an additional 172,628 shares in the last quarter. Anfield Capital Management LLC boosted its stake in Zentalis Pharmaceuticals by 239.9% during the 4th quarter. Anfield Capital Management LLC now owns 242,605 shares of the company's stock worth $328,000 after purchasing an additional 171,228 shares during the last quarter. 5AM Venture Management LLC boosted its stake in Zentalis Pharmaceuticals by 705.7% during the 4th quarter. 5AM Venture Management LLC now owns 3,947,913 shares of the company's stock worth $5,330,000 after purchasing an additional 3,457,913 shares during the last quarter. Ishara Investments LP purchased a new stake in shares of Zentalis Pharmaceuticals during the fourth quarter worth $1,782,000. Finally, CTC Alternative Strategies Ltd. purchased a new stake in shares of Zentalis Pharmaceuticals during the first quarter worth $29,000.

Zentalis Pharmaceuticals Company Profile

Zentalis Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapeutics for oncology. Leveraging a proprietary structure-based drug discovery platform, the company designs selective inhibitors aimed at critical cancer targets. Zentalis' research and development efforts center on delivering differentiated therapies that address unmet medical needs in solid tumors and hematologic malignancies.

The company's lead product candidate, ZN-c3, is an orally administered inhibitor of the p53-MDM2 interaction, currently being evaluated in Phase I clinical trials for advanced solid tumors and hematologic cancers.

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