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 reduced by Wells Fargo & Company from $6.00 to $5.00 in a research note published on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities research analysts also recently issued reports on the company. Wedbush reiterated a "neutral" rating and set a $4.00 price target on shares of Zentalis Pharmaceuticals in a report on Thursday, May 15th. HC Wainwright reissued a "buy" rating and issued a $10.00 price objective on shares of Zentalis Pharmaceuticals in a research report on Thursday, May 15th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Zentalis Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $8.20.

Zentalis Pharmaceuticals Trading Down 2.8%

ZNTL stock traded down $0.04 during mid-day trading on Thursday, reaching $1.40. The company's stock had a trading volume of 515,002 shares, compared to its average volume of 1,246,450. The company has a market cap of $100.73 million, a price-to-earnings ratio of -0.62 and a beta of 1.71. The business's 50 day moving average price is $1.37 and its 200 day moving average price is $1.55. Zentalis Pharmaceuticals has a 12 month low of $1.01 and a 12 month high of $5.44.

Zentalis Pharmaceuticals (NASDAQ:ZNTL - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.19. As a group, equities analysts expect 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 ZNTL. Raymond James Financial Inc. purchased a new stake in Zentalis Pharmaceuticals during the 4th quarter worth about $68,000. Sei Investments Co. purchased a new stake in Zentalis Pharmaceuticals during the 4th quarter worth about $107,000. Prudential Financial Inc. purchased a new stake in Zentalis Pharmaceuticals during the 4th quarter worth about $39,000. JPMorgan Chase & Co. lifted its holdings in Zentalis Pharmaceuticals by 75.7% during the 4th quarter. JPMorgan Chase & Co. now owns 859,710 shares of the company's stock worth $2,605,000 after purchasing an additional 370,511 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new stake in Zentalis Pharmaceuticals during the 4th quarter worth about $323,000.

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.