Zenas BioPharma, Inc. (NASDAQ:ZBIO) Stock Has Average Price Target of $46.71 According to Analysts

Shares of Zenas BioPharma, Inc. (NASDAQ:ZBIO) have earned an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $46.71.

Several equities analysts recently issued reports on ZBIO shares. Weiss Ratings lowered Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, November 4th. Guggenheim reissued a “buy” rating and set a $55.00 price objective on shares of Zenas BioPharma in a research note on Wednesday, September 30th. Wedbush restated an “outperform” rating and issued a $45.00 target price on shares of Zenas BioPharma in a report on Wednesday, September 30th. Citigroup reaffirmed a “buy” rating on shares of Zenas BioPharma in a research note on Wednesday, October 28th. Finally, Morgan Stanley assumed coverage on shares of Zenas BioPharma in a report on Tuesday, October 20th. They set an “equal weight” rating and a $32.00 price target for the company.

Zenas BioPharma Stock Performance

NASDAQ ZBIO opened at $28.58 on Friday. The company has a 50-day simple moving average of $28.85 and a two-hundred day simple moving average of $25.22. Zenas BioPharma has a 12-month low of $13.50 and a 12-month high of $44.60. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of -3.03 and a beta of -0.88. The company has a quick ratio of 9.93, a current ratio of 9.42 and a debt-to-equity ratio of 1.88.

Zenas BioPharma (NASDAQ:ZBIO) last released its quarterly earnings data on Thursday, November 5th. The company reported ($1.65) EPS for the quarter, missing the consensus estimate of ($1.24) by ($0.41). The firm had revenue of $10.00 million during the quarter, compared to analysts’ expectations of $10.00 million. On average, equities analysts forecast that Zenas BioPharma will post -6.09 EPS for the current year.

Hedge Funds Weigh In On Zenas BioPharma

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Zenas BioPharma during the second quarter valued at about $68,176,000. Bank of America Corp DE purchased a new stake in Zenas BioPharma in the second quarter worth $31,247,000. Candriam S.C.A. bought a new stake in Zenas BioPharma in the third quarter valued at $17,725,000. Wellington Management Group LLP boosted its holdings 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 valued at $40,451,000 after acquiring an additional 347,766 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in Zenas BioPharma in the first quarter valued at $4,888,000.

About Zenas BioPharma

Zenas BioPharma is a clinical-stage biopharmaceutical company focused on developing treatments for autoimmune diseases. Founded in 2019 and based in Waltham, Massachusetts, the company describes itself as a global biopharmaceutical business. Its lead investigational medicine, obexelimab, is a bifunctional antibody designed to bind CD19 and FcγRIIb and inhibit B-cell activity. Zenas is developing the drug for autoimmune conditions, including IgG4-related disease; it has not been approved for commercial use.