Zenas BioPharma’s (ZBIO) “Outperform” Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of Zenas BioPharma (NASDAQ:ZBIO) in a report released on Wednesday,Benzinga reports. The brokerage currently has a $45.00 target price on the stock.

Several other brokerages have also recently issued reports on ZBIO. Guggenheim reaffirmed a “buy” rating and set a $55.00 price objective on shares of Zenas BioPharma in a research note on Wednesday. HC Wainwright reissued a “buy” rating and issued a $44.00 target price on shares of Zenas BioPharma in a research note on Wednesday. Wall Street Zen upgraded Zenas BioPharma from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Weiss Ratings lowered Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 9th. Finally, Morgan Stanley increased their price target on Zenas BioPharma from $22.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, August 14th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Zenas BioPharma has a consensus rating of “Moderate Buy” and a consensus price target of $46.71.

Zenas BioPharma Trading Up 1.3%

Shares of ZBIO opened at $28.30 on Wednesday. Zenas BioPharma has a 52-week low of $13.50 and a 52-week 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 firm’s fifty day moving average is $31.28 and its two-hundred day moving average is $25.15. The stock has a market cap of $1.84 billion, a PE ratio of -3.15 and a beta of -0.89.

Zenas BioPharma (NASDAQ:ZBIO) last released its earnings results on Wednesday, August 12th. The company reported ($1.77) earnings per share (EPS) 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 analyst estimates of $15.00 million. Research analysts forecast that Zenas BioPharma will post -5.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zenas BioPharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZBIO. Quantbot Technologies LP acquired a new stake in shares of Zenas BioPharma during the 2nd quarter worth about $49,000. ProShare Advisors LLC purchased a new stake in Zenas BioPharma in the 4th quarter valued at about $211,000. Jupiter Topco LLC acquired a new position in Zenas BioPharma in the second quarter valued at about $201,000. The Manufacturers Life Insurance Company acquired a new position in Zenas BioPharma in the second quarter valued at about $204,000. Finally, Sei Investments Co. purchased a new position in Zenas BioPharma during the first quarter worth about $242,000.

About Zenas BioPharma

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.