Wells Fargo & Company Has Lowered Expectations for Zentalis Pharmaceuticals (NASDAQ:ZNTL) Stock Price

Key Points

• Wells Fargo & Company has reduced the price target for Zentalis Pharmaceuticals from $6.00 to $5.00, maintaining an "equal weight" rating on the stock.
• The stock is currently priced at $1.43, reflecting a potential upside of 250.88% from the new price target, with an average analyst rating of "Moderate Buy" and a target price of $8.20.
• In its last earnings report, Zentalis Pharmaceuticals beat expectations, reporting a loss of ($0.37) earnings per share against a consensus estimate of ($0.56).

Zentalis Pharmaceuticals (NASDAQ:ZNTL - Free Report) had its price target cut by Wells Fargo & Company from $6.00 to $5.00 in a research note released on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

ZNTL has been the subject of several other reports. HC Wainwright reissued a "buy" rating and set a $10.00 price objective on shares of Zentalis Pharmaceuticals in a research note on Thursday, May 15th. Wedbush reissued a "neutral" rating and set a $4.00 price objective on shares of Zentalis Pharmaceuticals in a research note on Thursday, May 15th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $8.20.

Zentalis Pharmaceuticals Stock Down 0.7%

Shares of NASDAQ ZNTL traded down $0.01 during trading on Thursday, hitting $1.44. 497,237 shares of the company traded hands, compared to its average volume of 576,408. Zentalis Pharmaceuticals has a 1 year low of $1.01 and a 1 year high of $5.44. The company has a 50-day moving average price of $1.37 and a 200-day moving average price of $1.56. The firm has a market capitalization of $103.61 million, a P/E ratio of -0.64 and a beta of 1.71.

Zentalis Pharmaceuticals (NASDAQ:ZNTL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.19. Research analysts predict that Zentalis Pharmaceuticals will post -2.42 EPS for the current fiscal year.

Institutional Trading of Zentalis Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its position in Zentalis Pharmaceuticals by 220.6% during the 1st quarter. Millennium Management LLC now owns 3,069,514 shares of the company's stock worth $4,881,000 after purchasing an additional 2,111,951 shares during the period. Acadian Asset Management LLC boosted its position in Zentalis Pharmaceuticals by 4.7% during the 2nd quarter. Acadian Asset Management LLC now owns 2,799,020 shares of the company's stock worth $3,241,000 after purchasing an additional 124,985 shares during the period. Almitas Capital LLC boosted its position in Zentalis Pharmaceuticals by 5.2% during the 1st quarter. Almitas Capital LLC now owns 1,710,921 shares of the company's stock worth $2,720,000 after purchasing an additional 84,025 shares during the period. Tybourne Capital Management HK Ltd. boosted its position in Zentalis Pharmaceuticals by 53.7% during the 2nd quarter. Tybourne Capital Management HK Ltd. now owns 1,478,152 shares of the company's stock worth $1,715,000 after purchasing an additional 516,666 shares during the period. Finally, Geode Capital Management LLC boosted its position in Zentalis Pharmaceuticals by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,312,964 shares of the company's stock valued at $3,979,000 after buying an additional 20,864 shares during the last quarter.

Zentalis Pharmaceuticals Company Profile

Zentalis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing small molecule therapeutics for the treatment of various cancers. Its products candidatures include the ZN-c3, an inhibitor of WEE1, a protein tyrosine kinase for the treatment of inhibitor for advanced solid tumors and hematological malignancies; in Phase 2 clinical trial as a monotherapy for the treatment of uterine serous carcinoma indications; Phase 2 clinical trial in Cyclin E1 driven high-grade serous ovarian cancer, fallopian tube, or primary peritoneal cancer; Phase 1/2 clinical trial in combination with PARPi for platinum-resistant ovarian cancer; Phase 1b clinical trial in combination with chemotherapy in platinum-resistant ovarian, and peritoneal or fallopian tube cancer; Phase 1/2 clinical trial in combination with chemotherapy in relapsed or refractory osteosarcoma; Phase 1/2 clinical trial with encorafenib and cetuximab for mutant metastatic colorectal cancer; and Phase 1/2 clinical trial in combination with chemotherapy in pancreatic cancer.