Zenas BioPharma (NASDAQ:ZBIO) Earns “Outperform” Rating from Wedbush

Zenas BioPharma (NASDAQ:ZBIO)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a research note issued on Wednesday, Benzinga reports. They presently have a $45.00 price objective on the stock. Wedbush’s price target would suggest a potential upside of 60.94% from the company’s current price.

Several other research firms have also commented on ZBIO. Weiss Ratings lowered Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 9th. HC Wainwright reaffirmed a “buy” rating and set a $44.00 target price on shares of Zenas BioPharma in a report on Wednesday, September 30th. Wall Street Zen raised Zenas BioPharma from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Citigroup reaffirmed a “buy” rating on shares of Zenas BioPharma in a report on Wednesday, June 3rd. Finally, Guggenheim reissued a “buy” rating and issued a $55.00 price objective on shares of Zenas BioPharma in a report on Wednesday, September 30th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Zenas BioPharma currently has a consensus rating of “Moderate Buy” and an average price target of $46.71.

Zenas BioPharma Stock Performance

Zenas BioPharma stock traded down $0.34 during midday trading on Wednesday, hitting $27.96. 884,331 shares of the company were exchanged, compared to its average volume of 822,989. The firm has a market capitalization of $1.82 billion, a PE ratio of -3.11 and a beta of -0.90. Zenas BioPharma has a fifty-two week low of $13.50 and a fifty-two week high of $44.60. The business has a fifty day simple moving average of $31.28 and a two-hundred day simple moving average of $25.16. 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 (NASDAQ:ZBIO) last posted its earnings results on Wednesday, August 12th. The company reported ($1.77) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.65). The company had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $15.00 million. On average, sell-side analysts forecast that Zenas BioPharma will post -5.81 earnings per share for the current year.

Institutional Trading of Zenas BioPharma

Institutional investors have recently bought and sold shares of the business. Walleye Capital LLC acquired a new stake in Zenas BioPharma in the second quarter valued at approximately $5,306,000. NEXTBio Capital Management LP purchased a new position in shares of Zenas BioPharma in the fourth quarter valued at approximately $11,691,000. Bank of America Corp DE lifted its position in shares of Zenas BioPharma by 723.5% in the first quarter. Bank of America Corp DE now owns 388,347 shares of the company’s stock valued at $7,592,000 after acquiring an additional 341,187 shares in the last quarter. J. Goldman & Co LP purchased a new position in shares of Zenas BioPharma in the second quarter valued at approximately $1,732,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Zenas BioPharma in the second quarter valued at approximately $1,789,000.

Zenas BioPharma Company Profile

Zenas BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing immune-based therapies for patients with serious autoimmune diseases. The company’s research is centered on medicines designed to modulate the immune system while potentially avoiding the broad immune-cell depletion associated with some existing treatments.

Zenas’ lead product candidate is obexelimab, an investigational monoclonal antibody designed to bind CD19 and Fc?RIIb receptors on B cells. Through this mechanism, obexelimab is intended to inhibit B-cell activity without eliminating the cells.