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

Shares of Zenas BioPharma, Inc. (NASDAQ:ZBIO) have been assigned an average rating of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $46.71.

A number of analysts have weighed in on ZBIO shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Zenas BioPharma in a report on Tuesday, October 6th. Morgan Stanley boosted their price objective on Zenas BioPharma from $22.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, August 14th. Guggenheim reissued a “buy” rating and issued a $55.00 price target on shares of Zenas BioPharma in a research report on Wednesday, September 30th. HC Wainwright reiterated a “buy” rating and issued a $44.00 price objective on shares of Zenas BioPharma in a research note on Tuesday. Finally, Wedbush reissued an “outperform” rating and issued a $45.00 target price on shares of Zenas BioPharma in a report on Wednesday, September 30th.

Zenas BioPharma Trading Down 1.2%

Shares of NASDAQ ZBIO opened at $24.86 on Monday. The business has a 50 day simple moving average of $30.45 and a 200 day simple moving average of $25.41. Zenas BioPharma has a 52 week low of $13.50 and a 52 week high of $44.60. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -2.77 and a beta of -0.90. 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 announced its quarterly earnings results on Thursday, August 13th. The company reported ($1.77) EPS 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, research analysts predict that Zenas BioPharma will post -5.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zenas BioPharma

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Zenas BioPharma during the second quarter worth $68,176,000. Wellington Management Group LLP boosted its holdings in Zenas BioPharma by 27.9% during the second quarter. Wellington Management Group LLP now owns 1,593,819 shares of the company’s stock worth $40,451,000 after buying an additional 347,766 shares during the last quarter. Polar Capital Holdings Plc acquired a new position in shares of Zenas BioPharma during the 4th quarter worth about $38,402,000. Bank of America Corp DE bought a new stake in shares of Zenas BioPharma in the 2nd quarter valued at about $31,247,000. Finally, EcoR1 Capital LLC bought a new stake in shares of Zenas BioPharma in the 4th quarter valued at about $28,667,000.

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.