Zenas BioPharma, Inc. (NASDAQ:ZBIO) Receives $45.71 Average Target Price from Brokerages

Zenas BioPharma, Inc. (NASDAQ:ZBIO) has received a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $45.7143.

A number of brokerages recently weighed in on ZBIO. Weiss Ratings downgraded Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 9th. Citigroup reissued a “buy” rating on shares of Zenas BioPharma in a research report on Wednesday, June 3rd. Morgan Stanley raised their price target 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. HC Wainwright reaffirmed a “buy” rating on shares of Zenas BioPharma in a research report on Wednesday, June 3rd. Finally, Guggenheim reiterated a “buy” rating and set a $55.00 price objective on shares of Zenas BioPharma in a research note on Friday, August 14th.

Zenas BioPharma Stock Performance

Shares of ZBIO stock opened at $31.50 on Thursday. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -3.50 and a beta of -1.04. The company’s 50 day moving average is $31.53 and its 200 day moving average is $24.91. The company has a quick ratio of 9.93, a current ratio of 9.93 and a debt-to-equity ratio of 1.57. Zenas BioPharma has a 52-week low of $13.50 and a 52-week high of $44.60.

Zenas BioPharma (NASDAQ:ZBIO) last posted its 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 business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $15.00 million. On average, sell-side analysts anticipate that Zenas BioPharma will post -5.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.