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

by · The Markets Daily

Shares of Zenas BioPharma, Inc. (NASDAQ:ZBIO – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $46.71.

Several brokerages have commented on ZBIO. Guggenheim reissued a “buy” rating and set a $55.00 target price on shares of Zenas BioPharma in a research note on Wednesday, September 30th. HC Wainwright restated a “buy” rating and issued a $44.00 price target on shares of Zenas BioPharma in a research note on Tuesday. Morgan Stanley raised their price target on shares of Zenas BioPharma from $22.00 to $32.00 and gave the company an “equal weight” rating in a research note 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. Finally, Citigroup raised their target price on Zenas BioPharma from $41.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, September 30th.

Read Our Latest Analysis on ZBIO

Hedge Funds Weigh In On Zenas BioPharma

Large investors 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. Wellington Management Group LLP raised its position in shares of Zenas BioPharma by 27.9% during the 2nd quarter. Wellington Management Group LLP now owns 1,593,819 shares of the company’s stock valued at $40,451,000 after buying an additional 347,766 shares in the last quarter. Polar Capital Holdings Plc bought a new position in shares of Zenas BioPharma during the 4th quarter valued at about $38,402,000. Bank of America Corp DE purchased a new position in shares of Zenas BioPharma during the second quarter worth approximately $31,247,000. Finally, EcoR1 Capital LLC purchased a new position in shares of Zenas BioPharma in the fourth quarter worth about $28,667,000.

Zenas BioPharma Stock Down 2.2%

Shares of ZBIO opened at $24.84 on Monday. Zenas BioPharma has a 12 month low of $13.50 and a 12 month high of $44.60. The firm’s 50 day moving average is $30.16 and its 200-day moving average is $25.45. The company has a quick ratio of 9.93, a current ratio of 9.93 and a debt-to-equity ratio of 1.57.

Zenas BioPharma (NASDAQ:ZBIO – Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($1.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.65). The firm had revenue of $1.00 million for the quarter, compared to the consensus estimate of $15.00 million. On average, analysts expect that Zenas BioPharma will post -5.81 EPS for the current year.

Zenas BioPharma Company Profile

(Get Free Report)

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 FcγRIIb receptors on B cells. Through this mechanism, obexelimab is intended to inhibit B-cell activity without eliminating the cells.

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