Zenas BioPharma (NASDAQ:ZBIO) Stock Keeps “Buy” Rating at HC Wainwright

Zenas BioPharma (NASDAQ:ZBIO)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. They currently have a $44.00 target price on the stock. HC Wainwright’s target price would suggest a potential upside of 60.51% from the stock’s current price.

A number of other equities analysts also recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $45.00 price target on shares of Zenas BioPharma in a research report on Friday, August 14th. Wall Street Zen upgraded shares of Zenas BioPharma from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Weiss Ratings cut shares of Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 9th. Morgan Stanley raised their target price on shares of Zenas BioPharma from $22.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, August 14th. Finally, Citigroup reiterated a “buy” rating on shares of Zenas BioPharma in a research note on Wednesday, June 3rd. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $45.71.

Zenas BioPharma Stock Up 2.4%

NASDAQ ZBIO traded up $0.65 on Wednesday, reaching $27.41. The company had a trading volume of 270,578 shares, compared to its average volume of 816,715. The company’s fifty day moving average is $31.47 and its 200-day moving average is $25.08. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -3.04 and a beta of -1.04. The company has a debt-to-equity ratio of 1.57, a quick ratio of 9.93 and a current ratio of 9.93. Zenas BioPharma has a 1-year low of $13.50 and a 1-year high of $44.60.

Zenas BioPharma (NASDAQ:ZBIO) last released its quarterly 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 during the quarter, compared to analysts’ expectations of $15.00 million. On average, research analysts forecast that Zenas BioPharma will post -5.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zenas BioPharma

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in Zenas BioPharma during the second quarter worth $49,000. ProShare Advisors LLC bought a new stake in shares of Zenas BioPharma in the 4th quarter valued at about $211,000. Jupiter Topco LLC bought a new stake in shares of Zenas BioPharma in the 2nd quarter valued at about $201,000. The Manufacturers Life Insurance Company acquired a new stake in Zenas BioPharma in the 2nd quarter valued at about $204,000. Finally, Bank of New York Mellon Corp raised its stake in Zenas BioPharma by 17.5% in the first quarter. Bank of New York Mellon Corp now owns 60,864 shares of the company’s stock valued at $1,190,000 after buying 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.