Zenas BioPharma’s (ZBIO) Buy Rating Reiterated at HC Wainwright

Zenas BioPharma (NASDAQ:ZBIO)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $44.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 67.33% from the company’s current price.

Several other brokerages have also recently commented on ZBIO. Morgan Stanley increased their target price on shares of Zenas BioPharma from $22.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, August 14th. Wedbush restated an “outperform” rating and set a $45.00 target price on shares of Zenas BioPharma in a report on Wednesday, September 30th. Citigroup increased their target price on shares of Zenas BioPharma from $41.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, September 30th. Guggenheim restated a “buy” rating and set a $55.00 target price on shares of Zenas BioPharma in a report on Wednesday, September 30th. Finally, Wall Street Zen upgraded shares of Zenas BioPharma from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $46.71.

Zenas BioPharma Stock Down 0.4%

Zenas BioPharma stock opened at $26.30 on Tuesday. The stock has a market capitalization of $1.71 billion, a PE ratio of -2.90 and a beta of -0.90. Zenas BioPharma has a twelve month low of $13.50 and a twelve month high of $44.60. The company has a quick ratio of 9.93, a current ratio of 9.93 and a debt-to-equity ratio of 1.57. The company has a 50 day moving average of $30.71 and a 200-day moving average of $25.37.

Zenas BioPharma (NASDAQ:ZBIO) last released its quarterly earnings results on Thursday, August 13th. The company reported ($1.77) earnings per share for the quarter, missing the consensus estimate 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, equities research analysts anticipate that Zenas BioPharma will post -5.81 EPS for the current fiscal year.

Institutional Trading of Zenas BioPharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Walleye Capital LLC bought a new stake in Zenas BioPharma during the second quarter worth $5,306,000. Bank of America Corp DE raised its position in Zenas BioPharma by 723.5% during the first quarter. Bank of America Corp DE now owns 388,347 shares of the company’s stock worth $7,592,000 after acquiring an additional 341,187 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Zenas BioPharma by 143.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 37,790 shares of the company’s stock worth $959,000 after acquiring an additional 22,267 shares in the last quarter. J. Goldman & Co LP bought a new stake in Zenas BioPharma during the second quarter worth $1,732,000. Finally, Bank of New York Mellon Corp bought a new stake in Zenas BioPharma during the second quarter worth $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 FcγRIIb receptors on B cells. Through this mechanism, obexelimab is intended to inhibit B-cell activity without eliminating the cells.