Zenas BioPharma's (ZBIO) Buy Rating Reaffirmed at Guggenheim

Key Points

• Guggenheim reaffirmed its “buy” rating on Zenas BioPharma and set a $55 price target, implying 88.58% potential upside from the prior close.
• Analyst sentiment remains generally positive, with six buy ratings, two holds and one sell; MarketBeat’s consensus rating is “Moderate Buy” with an average target of $44.29.
• Zenas reported weaker-than-expected quarterly results, including an EPS loss of $1.77 versus the $1.12 consensus estimate and revenue of $1 million versus expectations of $15 million.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report)'s stock had its "buy" rating restated by Guggenheim in a report released on Friday,Benzinga reports. They currently have a $55.00 price objective on the stock. Guggenheim's price target suggests a potential upside of 88.58% from the company's previous close.

ZBIO has been the subject of a number of other reports. Citigroup reissued a "buy" rating on shares of Zenas BioPharma in a research note on Wednesday, June 3rd. HC Wainwright restated a "buy" rating on shares of Zenas BioPharma in a research note on Wednesday, June 3rd. Weiss Ratings lowered Zenas BioPharma from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, July 9th. Wall Street Zen upgraded Zenas BioPharma from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 27th. Finally, Morgan Stanley upped their price target on Zenas BioPharma from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 14th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Zenas BioPharma presently has a consensus rating of "Moderate Buy" and an average target price of $44.29.

Zenas BioPharma Stock Down 0.1%

Shares of NASDAQ:ZBIO opened at $29.16 on Friday. The stock's 50-day moving average is $26.71 and its 200 day moving average is $23.34. The company has a market cap of $1.84 billion, a PE ratio of -3.42 and a beta of -1.03. The company has a debt-to-equity ratio of 1.04, a current ratio of 11.94 and a quick ratio of 11.94. Zenas BioPharma has a 1 year low of $13.50 and a 1 year high of $44.60.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($1.77) earnings per share for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.65). The firm had revenue of $1.00 million during the quarter, compared to analysts' expectations of $15.00 million. Sell-side analysts anticipate that Zenas BioPharma will post -4.47 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Leon O. Moulder, Jr. acquired 60,000 shares of the stock in a transaction on Monday, May 18th. The stock was acquired at an average price of $16.88 per share, for a total transaction of $1,012,800.00. Following the completion of the purchase, the chief executive officer owned 96,928 shares of the company's stock, valued at $1,636,144.64. This represents a 162.48% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zenas BioPharma

Institutional investors and hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP purchased a new position in shares of Zenas BioPharma in the 2nd quarter worth about $49,000. DCF Advisers LLC purchased a new stake in Zenas BioPharma during the 2nd quarter valued at about $715,000. BlackRock Inc. bought a new stake in Zenas BioPharma during the 2nd quarter valued at about $68,176,000. Deutsche Bank AG bought a new stake in Zenas BioPharma during the 2nd quarter valued at about $733,000. Finally, Bank of New York Mellon Corp purchased a new position in Zenas BioPharma in the second quarter worth about $1,789,000.

Zenas BioPharma Company Profile

Zenas BioPharma, Inc is a clinical-stage biotechnology company focused on the discovery and development of novel therapies in oncology and infectious diseases. The company's proprietary platform integrates structure-guided design, computational modeling and high-throughput screening to address challenging protein-protein interactions. Zenas BioPharma is advancing multiple preclinical and clinical-stage candidates aimed at providing new treatment options where current modalities may be limited by efficacy or safety concerns.

Founded in 2021 and headquartered in Cambridge, Massachusetts, Zenas BioPharma was built to streamline the drug discovery process from target identification through to IND-enabling studies.

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