Zenas BioPharma (NASDAQ:ZBIO) Given Outperform Rating at Wedbush

Zenas BioPharma (NASDAQ:ZBIO)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a research note issued on Wednesday, Benzinga reports. They currently have a $45.00 price target on the stock. Wedbush’s price target would suggest a potential upside of 68.16% from the stock’s current price.

ZBIO has been the topic of several other reports. HC Wainwright reissued a “buy” rating and issued a $44.00 price target on shares of Zenas BioPharma in a research note on Wednesday. Citigroup reaffirmed a “buy” rating on shares of Zenas BioPharma in a research note on Wednesday, June 3rd. Wall Street Zen upgraded shares of Zenas BioPharma from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Morgan Stanley raised their target price on shares of Zenas BioPharma from $22.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, August 14th. Finally, Weiss Ratings lowered Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 9th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.71.

Zenas BioPharma Stock Down 2.9%

NASDAQ ZBIO opened at $26.76 on Wednesday. The business has a fifty day moving average price of $31.47 and a 200 day moving average price of $25.08. 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 company has a market cap of $1.74 billion, a P/E ratio of -2.98 and a beta of -1.04. Zenas BioPharma has a one year low of $13.50 and a one year high of $44.60.

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

Institutional Investors Weigh In On Zenas BioPharma

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