Zenas BioPharma (NASDAQ:ZBIO) Stock Keeps “Buy” Rating at HC Wainwright

Zenas BioPharma (NASDAQ:ZBIO)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a note issued to investors on Wednesday, Marketbeat.com reports. They presently have a $44.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 60.73% from the stock’s current price.

Several other brokerages also recently issued reports on ZBIO. Wedbush restated an “outperform” rating and issued a $45.00 price target on shares of Zenas BioPharma in a report on Friday, August 14th. Morgan Stanley increased their price target on Zenas BioPharma from $22.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, August 14th. Guggenheim restated a “buy” rating and set a $55.00 target price on shares of Zenas BioPharma in a report on Friday, August 14th. Wall Street Zen upgraded shares of Zenas BioPharma from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Finally, Citigroup restated a “buy” rating on shares of Zenas BioPharma in a report on Wednesday, June 3rd. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.71.

Zenas BioPharma Trading Up 2.3%

Shares of NASDAQ:ZBIO traded up $0.62 during mid-day trading on Wednesday, reaching $27.38. The stock had a trading volume of 172,667 shares, compared to its average volume of 816,267. The firm has a market cap of $1.78 billion, a PE ratio of -3.05 and a beta of -1.04. The firm has a 50 day simple moving average of $31.47 and a two-hundred day simple moving average of $25.08. The company has a current ratio of 9.93, a quick ratio of 9.93 and a debt-to-equity ratio of 1.57. Zenas BioPharma has a twelve month low of $13.50 and a twelve month high of $44.60.

Zenas BioPharma (NASDAQ:ZBIO) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($1.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.65). The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $15.00 million. On average, research analysts predict that Zenas BioPharma will post -5.81 EPS for the current fiscal year.

Institutional Trading of Zenas BioPharma

Several hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in Zenas BioPharma during the 2nd quarter worth approximately $49,000. ProShare Advisors LLC acquired a new stake in Zenas BioPharma during the 4th quarter worth approximately $211,000. Jupiter Topco LLC acquired a new stake in Zenas BioPharma during the 2nd quarter worth approximately $201,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Zenas BioPharma in the second quarter valued at approximately $204,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Zenas BioPharma by 17.5% in the first quarter. Bank of New York Mellon Corp now owns 60,864 shares of the company’s stock valued at $1,190,000 after purchasing an additional 9,062 shares during the last quarter.

Zenas BioPharma Company Profile

Zenas BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for patients with immune-mediated diseases. The company’s research and development efforts are centered on therapies that modulate the immune system and address conditions with significant unmet medical needs.

Zenas’ lead investigational product is obexelimab, an immune-modulating monoclonal antibody designed to inhibit the activity of certain B cells without broadly depleting them. The company is evaluating obexelimab in autoimmune and inflammatory diseases, including IgG4-related disease and systemic lupus erythematosus.