Wells Fargo & Company Begins Coverage on Zentalis Pharmaceuticals (NASDAQ:ZNTL)

Analysts at Wells Fargo & Company assumed coverage on shares of Zentalis Pharmaceuticals (NASDAQ:ZNTL) in a research note issued to investors on Wednesday. The firm set an “equal weight” rating and a $5.00 price target on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 90.48% from the company’s previous close.

A number of other research analysts have also issued reports on ZNTL. Rodman & Renshaw initiated coverage on shares of Zentalis Pharmaceuticals in a report on Thursday, July 23rd. They issued a “buy” rating and a $11.00 price objective for the company. Mizuho initiated coverage on shares of Zentalis Pharmaceuticals in a research note on Friday, July 17th. They set an “outperform” rating and a $8.00 price target for the company. Wall Street Zen cut shares of Zentalis Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. William Blair assumed coverage on Zentalis Pharmaceuticals in a report on Wednesday, September 16th. They issued an “outperform” rating for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zentalis Pharmaceuticals in a report on Monday, July 6th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.75.

Zentalis Pharmaceuticals Trading Down 3.1%

Zentalis Pharmaceuticals stock traded down $0.09 during mid-day trading on Wednesday, reaching $2.62. The company had a trading volume of 48,418 shares, compared to its average volume of 1,554,086. The business has a fifty day simple moving average of $3.85 and a 200 day simple moving average of $3.87. The company has a market cap of $188.14 million, a P/E ratio of -1.35 and a beta of 1.85. Zentalis Pharmaceuticals has a fifty-two week low of $1.21 and a fifty-two week high of $6.95.

Zentalis Pharmaceuticals (NASDAQ:ZNTL) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.10). Research analysts forecast that Zentalis Pharmaceuticals will post -2.11 EPS for the current year.

Insider Transactions at Zentalis Pharmaceuticals

In other news, major shareholder Group Walters purchased 4,335,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were purchased at an average price of $3.50 per share, for a total transaction of $15,172,500.00. Following the transaction, the insider owned 17,844,973 shares of the company’s stock, valued at approximately $62,457,405.50. This trade represents a 32.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ZNTL. GSA Capital Partners LLP acquired a new stake in shares of Zentalis Pharmaceuticals during the 2nd quarter worth approximately $1,815,000. BlackRock Inc. acquired a new stake in Zentalis Pharmaceuticals in the second quarter worth $18,205,000. Seven Fleet Capital Management LP grew its holdings in Zentalis Pharmaceuticals by 188.7% in the second quarter. Seven Fleet Capital Management LP now owns 317,600 shares of the company’s stock worth $1,451,000 after purchasing an additional 207,600 shares during the period. Primecap Management Co. CA acquired a new position in shares of Zentalis Pharmaceuticals during the second quarter valued at about $4,643,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Zentalis Pharmaceuticals during the 2nd quarter worth about $3,676,000.

About Zentalis Pharmaceuticals

Zentalis Pharmaceuticals, Inc (NASDAQ: ZNTL) is a clinical-stage biopharmaceutical company focused on discovering and developing small-molecule medicines for the treatment of cancer. The company’s research programs are designed to address biological mechanisms involved in tumor growth, resistance to treatment and disease progression.

Zentalis’ lead product candidate is azenosertib, formerly known as ZN-c3, an oral, selective WEE1 kinase inhibitor. The company is evaluating azenosertib in clinical studies involving solid tumors and hematologic malignancies, including ovarian cancer, uterine serous carcinoma and other cancers.