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

Zenas BioPharma (NASDAQ:ZBIO)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a report issued on Wednesday, Benzinga reports. They presently have a $44.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 64.42% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Guggenheim reiterated a “buy” rating and issued a $55.00 price objective on shares of Zenas BioPharma in a research note on Friday, August 14th. Weiss Ratings downgraded Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, July 9th. Wall Street Zen raised Zenas BioPharma from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Morgan Stanley boosted their target price on Zenas BioPharma from $22.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, August 14th. Finally, Wedbush reissued an “outperform” rating and issued a $45.00 target price on shares of Zenas BioPharma in a report on Friday, August 14th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Zenas BioPharma currently has a consensus rating of “Moderate Buy” and an average target price of $45.71.

Zenas BioPharma Trading Down 2.9%

Shares of ZBIO stock opened at $26.76 on Wednesday. The business’s 50 day moving average is $31.47 and its two-hundred day moving average is $25.08. Zenas BioPharma has a twelve month low of $13.50 and a twelve month high of $44.60. The company has a current ratio of 9.93, a quick ratio of 9.93 and a debt-to-equity ratio of 1.57. The company has a market capitalization of $1.74 billion, a P/E ratio of -2.98 and a beta of -1.04.

Zenas BioPharma (NASDAQ:ZBIO) last announced its quarterly earnings data 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 business had revenue of $1.00 million for the quarter, compared to the consensus estimate of $15.00 million. Equities analysts forecast that Zenas BioPharma will post -5.81 EPS for the current year.

Hedge Funds Weigh In On Zenas BioPharma

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of Zenas BioPharma in the second quarter valued at approximately $68,176,000. Bank of America Corp DE acquired a new stake in Zenas BioPharma during the second quarter worth approximately $31,247,000. Polar Capital Holdings Plc acquired a new stake in Zenas BioPharma during the fourth quarter worth approximately $38,402,000. EcoR1 Capital LLC purchased a new stake in Zenas BioPharma in the 4th quarter worth approximately $28,667,000. Finally, Wellington Management Group LLP grew its stake in Zenas BioPharma by 27.9% in the 2nd 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 period.

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.