Zenas BioPharma (NASDAQ:ZBIO) Stock Rating Reaffirmed as Outperform by Wedbush

Zenas BioPharma (NASDAQ:ZBIO)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a note issued to investors on Wednesday, Benzinga reports. They presently have a $45.00 price objective on the stock. Wedbush’s price target points to a potential upside of 61.15% from the stock’s previous close.

ZBIO has been the topic of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $44.00 target price on shares of Zenas BioPharma in a report on Wednesday. Weiss Ratings lowered Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 9th. Guggenheim reaffirmed a “buy” rating and issued a $55.00 target price on shares of Zenas BioPharma in a report on Wednesday. Citigroup reaffirmed a “buy” rating on shares of Zenas BioPharma in a report on Wednesday, June 3rd. Finally, Wall Street Zen raised Zenas BioPharma from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.71.

Zenas BioPharma Stock Up 4.4%

Shares of NASDAQ ZBIO traded up $1.17 during mid-day trading on Wednesday, reaching $27.93. 47,754 shares of the company traded hands, compared to its average volume of 815,516. 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 stock has a market cap of $1.82 billion, a PE ratio of -3.07 and a beta of -1.04. The company’s fifty day moving average is $31.47 and its two-hundred day moving average is $25.08. Zenas BioPharma has a fifty-two week low of $13.50 and a fifty-two week high of $44.60.

Zenas BioPharma (NASDAQ:ZBIO) last released its earnings results on Wednesday, August 12th. The company reported ($1.77) earnings per share (EPS) 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 analysts’ expectations of $15.00 million. On average, analysts expect that Zenas BioPharma will post -5.81 earnings per share for the current year.

Institutional Trading of Zenas BioPharma

Institutional investors have recently modified their holdings of the company. Walleye Capital LLC acquired a new stake in shares of Zenas BioPharma during the 2nd quarter worth approximately $5,306,000. NEXTBio Capital Management LP acquired a new stake in shares of Zenas BioPharma during the 4th quarter worth approximately $11,691,000. Bank of America Corp DE grew its holdings in shares of Zenas BioPharma by 723.5% during the 1st quarter. Bank of America Corp DE now owns 388,347 shares of the company’s stock worth $7,592,000 after purchasing an additional 341,187 shares in the last quarter. J. Goldman & Co LP bought a new position in shares of Zenas BioPharma during the 2nd quarter worth approximately $1,732,000. Finally, EcoR1 Capital LLC bought a new position in shares of Zenas BioPharma during the 4th quarter worth approximately $28,667,000.

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.