Zentalis Pharmaceuticals (NASDAQ:ZNTL) Cut to Strong Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Zentalis Pharmaceuticals to “strong sell” from “sell,” although broader analyst sentiment remains mixed: the stock has an average “hold” rating and a $6.75 target price.
• Zentalis reported a quarterly loss of $0.59 per share, missing consensus estimates of a $0.49 loss; analysts expect a full-year loss of approximately $1.83 per share.
• The stock opened at $4.22, with a market capitalization of about $300 million and a 52-week range of $1.21 to $6.95. Several institutional investors increased their positions, including 5AM Venture Management, Millennium Management, and Renaissance Technologies.

Zentalis Pharmaceuticals (NASDAQ:ZNTL - Get Free Report) was downgraded by Wall Street Zen from a "sell" rating to a "strong sell" rating in a report issued on Saturday.

ZNTL has been the subject of a number of other research reports. Rodman & Renshaw initiated coverage on Zentalis Pharmaceuticals in a research report on Thursday, July 23rd. They issued a "buy" rating and a $11.00 price target for the company. HC Wainwright reissued a "buy" rating and issued a $10.00 target price on shares of Zentalis Pharmaceuticals in a research report on Friday, May 22nd. Mizuho initiated coverage on shares of Zentalis Pharmaceuticals in a research note on Friday, July 17th. They issued an "outperform" rating and a $8.00 price objective for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Zentalis Pharmaceuticals in a research report on Monday, July 6th. Finally, Guggenheim increased their price objective on Zentalis Pharmaceuticals from $6.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, April 10th. Four 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $6.75.

Zentalis Pharmaceuticals Stock Performance

Zentalis Pharmaceuticals stock opened at $4.22 on Friday. The firm has a market cap of $300.42 million, a price-to-earnings ratio of -2.16 and a beta of 1.92. Zentalis Pharmaceuticals has a 1 year low of $1.21 and a 1 year high of $6.95. The firm's 50 day moving average price is $4.31 and its two-hundred day moving average price is $3.59.

Zentalis Pharmaceuticals (NASDAQ:ZNTL - Get Free Report) last announced 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, equities analysts predict that Zentalis Pharmaceuticals will post -1.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. 5AM Venture Management LLC boosted its holdings in Zentalis Pharmaceuticals by 705.7% in the fourth 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 in the last quarter. BlackRock Inc. bought a new position in Zentalis Pharmaceuticals during the second quarter valued at about $18,205,000. Millennium Management LLC lifted its position in shares of Zentalis Pharmaceuticals by 220.6% in the first quarter. Millennium Management LLC now owns 3,069,514 shares of the company's stock worth $4,881,000 after buying an additional 2,111,951 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Zentalis Pharmaceuticals by 0.7% in the third quarter. Vanguard Group Inc. now owns 2,904,400 shares of the company's stock worth $4,386,000 after buying an additional 19,768 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Zentalis Pharmaceuticals by 24.0% during the 4th quarter. Renaissance Technologies LLC now owns 2,883,745 shares of the company's stock worth $3,893,000 after acquiring an additional 558,390 shares in the last quarter.

About Zentalis Pharmaceuticals

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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