Zentalis Pharmaceuticals (NASDAQ:ZNTL) Stock Rating Raised to “Outperform” at Wedbush

Zentalis Pharmaceuticals (NASDAQ:ZNTL) was upgraded by equities researchers at Wedbush from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The firm currently has a $6.00 price target on the stock. Wedbush‘s target price would suggest a potential upside of 244.83% from the company’s current price.

A number of other research firms also recently weighed in on ZNTL. Wells Fargo & Company began coverage on Zentalis Pharmaceuticals in a report on Wednesday, September 30th. They issued an “equal weight” rating and a $5.00 price objective for the company. Rodman & Renshaw assumed coverage on Zentalis Pharmaceuticals in a research report on Thursday, July 23rd. They set a “buy” rating and a $11.00 target price for the company. Mizuho initiated coverage on Zentalis Pharmaceuticals in a report on Friday, July 17th. They set an “outperform” rating and a $8.00 target price on the stock. Leerink Partners initiated coverage on Zentalis Pharmaceuticals in a research report on Monday, October 5th. They issued an “outperform” rating and a $8.00 price target on the stock. Finally, William Blair started coverage on Zentalis Pharmaceuticals in a research note on Wednesday, September 16th. They issued an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Zentalis Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $7.75.

Zentalis Pharmaceuticals Price Performance

ZNTL opened at $1.74 on Tuesday. Zentalis Pharmaceuticals has a fifty-two week low of $1.25 and a fifty-two week high of $6.95. The company’s 50 day moving average price is $2.70 and its two-hundred day moving average price is $3.41. The firm has a market capitalization of $124.71 million, a price-to-earnings ratio of -0.89 and a beta of 1.91.

Zentalis Pharmaceuticals (NASDAQ:ZNTL) last released its quarterly earnings results on Tuesday, November 10th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.20. As a group, equities research analysts predict that Zentalis Pharmaceuticals will post -2.15 EPS for the current year.

Insider Buying and Selling at Zentalis Pharmaceuticals

In other Zentalis Pharmaceuticals news, major shareholder Group Walters acquired 4,335,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $3.50 per share, with a total value of $15,172,500.00. Following the purchase, the insider directly owned 17,844,973 shares of the company’s stock, valued at $62,457,405.50. This trade represents a 32.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Zentalis Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. 5AM Venture Management LLC bought a new stake in Zentalis Pharmaceuticals in the second quarter worth approximately $19,147,378. BlackRock Inc. bought a new position in shares of Zentalis Pharmaceuticals during the 2nd quarter worth approximately $18,205,000. Bank of America Corp DE acquired a new stake in shares of Zentalis Pharmaceuticals during the 2nd quarter worth approximately $5,406,000. Primecap Management Co. CA acquired a new stake in shares of Zentalis Pharmaceuticals during the 2nd quarter worth approximately $4,643,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Zentalis Pharmaceuticals during the 2nd quarter worth approximately $3,676,000.

About Zentalis Pharmaceuticals

Zentalis Pharmaceuticals, Inc (NASDAQ:ZNTL) is a clinical-stage biopharmaceutical company focused on discovering and developing small-molecule medicines for the treatment of cancer. The company’s research is centered on therapies designed to target biological pathways involved in tumor growth, survival and resistance to existing treatments.

Zentalis’ lead product candidate is azenosertib, formerly known as ZN-c3, an oral inhibitor of WEE1, a protein involved in regulating the cell cycle and DNA-damage response.