Zenas BioPharma’s (ZBIO) “Buy” Rating Reiterated at HC Wainwright

Zenas BioPharma (NASDAQ:ZBIO)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research note issued to investors on Wednesday, MarketBeat reports. They presently have a $44.00 price target on the stock. HC Wainwright’s price target would indicate a potential upside of 63.14% from the stock’s previous close.

A number of other research firms have also recently weighed in on ZBIO. Weiss Ratings cut shares of Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 9th. Morgan Stanley lifted their price objective on shares of Zenas BioPharma from $22.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, August 14th. Citigroup reaffirmed a “buy” rating on shares of Zenas BioPharma in a report on Wednesday, June 3rd. Wall Street Zen raised shares of Zenas BioPharma from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Finally, Guggenheim reiterated a “buy” rating and issued a $55.00 target price on shares of Zenas BioPharma in a research report on Friday, August 14th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Zenas BioPharma currently has an average rating of “Moderate Buy” and a consensus price target of $46.71.

Zenas BioPharma Stock Performance

Shares of Zenas BioPharma stock traded up $0.21 during trading on Wednesday, hitting $26.97. 623,232 shares of the company’s stock were exchanged, compared to its average volume of 818,694. The company has a debt-to-equity ratio of 1.57, a quick ratio of 9.93 and a current ratio of 9.93. The business has a 50-day simple moving average of $31.47 and a 200-day simple moving average of $25.08. Zenas BioPharma has a 52-week low of $13.50 and a 52-week high of $44.60. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -3.00 and a beta of -1.04.

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

Institutional Trading of Zenas BioPharma

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Zenas BioPharma during the second quarter worth about $68,176,000. Wellington Management Group LLP boosted its position in Zenas BioPharma by 27.9% during the second quarter. Wellington Management Group LLP now owns 1,593,819 shares of the company’s stock worth $40,451,000 after acquiring an additional 347,766 shares during the last quarter. Polar Capital Holdings Plc acquired a new position in Zenas BioPharma during the fourth quarter worth about $38,402,000. Bank of America Corp DE acquired a new position in Zenas BioPharma during the second quarter worth about $31,247,000. Finally, EcoR1 Capital LLC acquired a new position in Zenas BioPharma during the fourth quarter worth about $28,667,000.

About Zenas BioPharma

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.